After Old Powell's dovish remarks, Bitcoin briefly surged to touch the 117-day line level support-resistance switch.
Subsequently, a downward oscillation and subtle decline began over the weekend.
Current position 1146 serves as potential support at the 4H level and daily level. This area needs to be defended before the US stock market opens next week to form a bottom structure for a reversal pattern.
Further observation will be made for a breakout above 117 to test 120k.
Although the small-scale bulls are relatively weak, there has been no significant increase in volume during the pullback process. Instead, the counterfeit pullback has been considerable, causing short-term funds to start flowing back in.
The subsequent approach remains a low-long strategy.
Upper pressure: 117500/118600/119500
Lower support 114500/113650/112000/111320/108000
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