Bitcoin Early Morning Analysis

✅ Recently, it has been emphasized that this wave of increase is driven by sentiment and will not last. Only after recovering 117,000 will it continue to rise. However, there is still an expectation of forming a bullish structure. The range of 114-113 is a necessary area to gamble on. Since the stop-loss has been triggered, there are only 2 expectations for Bitcoin ⬇️

1️⃣ Failure to build a bullish structure, continued decline, leading to a major correction. Pay attention to the first support around 108,000 in a large cycle, and the second support just below 100,000. When reaching this position, spot buying can be considered.

2️⃣ Why did it stop falling here at 110,400? This has been emphasized many times before; this area is the resonance zone of the Vegas channel and the daily scalp. Looking at previous articles, I believe the pin position for the 2B long order should be here. As a result, it rose after reaching 111,600. Now that we are here, there is still an expectation of a rebound. The 2B long order can still be executed, and there is still an expectation of a rebound to 118,000. This is also the reason for chasing longs while trailing stops back to 108.