"114,700 is the dividing line between heaven and hell! Tonight, Bitcoin will answer all doubts with candlesticks!"
Technical Analysis in Depth:
The current 1-hour candlestick chart shows that BTC is pulling back from the upper Bollinger Band (114,000) towards the middle band, currently oscillating around 113,000. The key bullish-bearish dividing line is at 114,700—if it breaks through with volume, it will directly target the upper resistance level of 115,000, potentially opening up a new round of upward movement! However, if multiple attempts fail, it is highly likely to retest the strong support zone of 112,000. The narrowing of the Bollinger Bands suggests a change is imminent, with the RSI indicator being neutral to weak, and caution is advised for short-term pullback risks.
Catalytic factors from news:
Expectations for a Fed rate cut are rising, which is favorable for liquidity in the crypto market;
Whale addresses have been accumulating BTC in the last 24 hours, with significant trading activity;
However, regulatory concerns still linger, and some institutions have a strong willingness to take profits.
Bullish and bearish news is intertwined, market sentiment is sensitive, and breakthroughs at key levels need to be accompanied by increased volume to be credible!
Mige's Exclusive Opinion:
I believe tonight's market will determine the short-term direction!
114,700 is the key of keys—if it breaks through, follow the trend to go long, targeting 115,000+; if there is a false breakout or insufficient volume, make sure to reverse and short, looking at the support at 112,000!
Note: Operators like to wash out positions at key levels, do not blindly chase highs or lows!
Blind trading = losses! Follow Mige closely, learn professional thinking and strategies, and say goodbye to trading based on 'feelings'! Click on the avatar, change starts from following!