8.15 Evening Bitcoin Market Analysis
Bitcoin rebounded three times last night near the support level of 117300 and has currently risen to above 119200, hovering around 119000.
From a technical perspective, the 12-hour chart showed a spike up to around 124500 resistance early yesterday morning, with a green 9 appearing on the TD indicator above. The long-term trend has turned bearish, and we have now recorded two consecutive large bearish candles, with a rebound of nearly 2000 points from the early morning low. In the short term, there is a tendency for further upward movement, with key attention on the 120000 round number resistance. If it approaches this level, a short position can be arranged once.
Bitcoin can be traded at: around 118500-117600, targeting around 119800-121000