Let's break down the key details of today's intraday trend: In the early session, Bitcoin opened near 109600 and did not rush to attack but instead started a 'grinding mode' in the 109800-110200 range. During this time, it tested the support at the 110000 round number three times; each time the price dipped below 110000, large buy orders of 500-1000 BTC quickly appeared on the exchange's depth chart, supporting the price like a 'load-bearing wall', without any effective breakdown; around 2 PM in the afternoon, market funds began to shift from 'defensive' to 'offensive', and buying gradually dominated the market. The price first broke through the previous resistance level of 110500 and then climbed along the 5-minute moving average, reaching a high near 110950. As of now, it has steadily stood above 110800, with an intraday increase of over 1.2%, and the price difference from the low to high is nearly 1350 points, clearly opening up the profit space.
This kind of 'slow stabilization, gradual ascent' trend hides two key signals: First, the bulls are not engaging in short-term speculation but are consolidating positions through corrections—on-chain data shows that today's net outflow from exchanges has increased by 30% compared to yesterday, with more investors choosing to transfer their spot holdings from exchanges to cold wallets, showing a clear sentiment of 'reluctance to sell', which lays a solid foundation for future upward movement; second, market sentiment is warming up synchronously, with CoinGlass data showing that the perpetual contract long-short ratio for Bitcoin has risen from 1.02 in the morning to 1.15, and the short position liquidation volume has increased by 25% compared to yesterday, indicating that previously bearish funds are gradually exiting the market, and the balance between long and short positions is tilting more towards the bulls, creating an increasingly strong bullish atmosphere.
Combining these signals, I am personally firmly bullish on Bitcoin in the evening, and the operational suggestion revolves around 'relying on support and entering in batches', capturing bullish momentum while avoiding the risk of chasing high positions.
Entry timing selection: Prioritize establishing long positions above 110800. 110800 is not only the key resistance level that broke through in the afternoon today but also the 'strong support line' that has been tested three times without breaking during the day—entering here allows you to avoid the uncertainty of short-term corrections while precisely hitting the bullish upward rhythm; if a slight correction occurs in the evening, as long as it does not fall below 110500 (the upper boundary of today's fluctuation range), it can still be regarded as a high-quality opportunity for 'buying on a dip', making the entry cost lower and risk more controllable.
Target level and profit-taking strategy: The first target closely watches below 112200. 112200 is the 'upper resistance level' of the previous fluctuation range and a key point that bulls have attempted to break through multiple times in the past week. After reaching this level, it is essential to observe changes in trading volume—if the breakout of 112200 is accompanied by an increase in trading volume (over 30% compared to current volume), the second target can be raised to around 113000, which corresponds to the resistance level of the previous highs connected by a line and is also a key node for the daily increase to expand to 2%; if there is a decrease in volume near 112200, and the K-line closes with a long upper shadow, it is advisable to take profit on 50% of the position first, securing some gains to avoid profit retracement due to short-term profit-taking.
Risk control bottom line: It is essential to set stop-loss levels strictly, and it is recommended to place the stop-loss below 110500 (300-500 points below the entry price). Although the current bullish sentiment is dominant, the market may experience sudden fluctuations in the evening due to factors such as US stock volatility and macro news; setting stop-loss levels can effectively control the risk of a single trade within 1%, avoiding being passive due to the low-probability 'spike market'.
Overall, today's 'slow rise' of Bitcoin is not weakness but rather the bulls 'gathering strength'—each time a new support level is established, it accumulates momentum for the subsequent rise. As long as the critical support at 110800 is maintained in the evening, the bulls will have the opportunity to launch an attack towards 112200 and 113000. For investors looking to seize swing trading opportunities, there is no need to hesitate at this moment; just keep a close eye on the breakthrough situation of key levels, and follow the bullish rhythm to more safely capture the potential gains in the evening.
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