Bitcoin Morning Market Analysis
Looking back at the market trends from last night, Bitcoin faced resistance after a dip to the 112,000 mark and did not provide any continuation movements. It then rebounded slightly by a few hundred points.
First, let's look at the four-hour level. After a series of consecutive bearish candles leading to a slow decline, the price has turned bullish again. Although the rebound strength currently appears to be relatively slow, this is still a good sign. The price has indeed shown signs of a turnaround, and it is expected to rise further. After a V-shaped movement, the price continues to operate at a high level, and any pullback is merely a normal corrective trend. From the current structure alone, the four-hour setup also possesses the momentum to push higher again. Continuous sideways consolidation is building momentum, with lower lows being raised, and now we are just waiting for the breakout to create space. Currently, the price is once again showing oscillating movement. In the future, we will wait for the market to move out and continue to hold a bullish stance.
Bitcoin can be traded around: 112,300-112,000, with a target of 113,000-114,500
