Today, the overall fluctuation of Bitcoin is not significant, currently operating around 113800, with slight signs of short-term upward movement.
Overall, it belongs to the consolidation phase, and the market is still building strength for a breakout.
Support level: 113200—113000 is the key defensive area for bulls. Once broken, it may test 111800—112000;
Resistance level: 114800—115500 is the main short-term resistance. A breakout is needed to open up space towards 120000;
Trend structure: The daily line remains within an upward channel, and the upward trend in oscillation remains unchanged, with slight upward movement resembling a probing action by the main force.
1️⃣ Short-term thoughts
If the 113500—113800 range stabilizes, a small position can be taken to go long, targeting 114800—115500;
If it breaks below 113000, stop-loss is needed, and wait to re-enter around 112000.
2️⃣ Medium-term thoughts
Gradually layout entry points: 113000, 111800, 110000;
The medium-term target is aimed at 118000—120000, with a breakthrough possibly impacting 125000.
3️⃣ Position management
For short-term, hold 30% of the position, confirm a breakout above 115500 before increasing the position;
Set the stop-loss below 113000 to avoid being caught in sideways trading.
In summary:
BTC shows slight upward movement at 113800, still in a phase of consolidation and strength building. Holding 113000 is the bull's bottom line, and a breakout above 115500 will lead to accelerated upward movement.
