BTC Evening Market Analysis

Looking at BTC tonight, there are several positive signals from a technical perspective. The daily chart has produced a 'hammer' reversal signal, and the price is forming a double bottom near the 100-hour moving average (approximately $110,500), indicating a technical demand for a rebound.

Next, looking at the short-term, the price has already broken through the upper trendline of the descending wedge on the 15-minute chart. The key now is whether it can hold above $112,500. If it stabilizes, the next target will be $115,000, which happens to be the Fibonacci 38.2% retracement level, worth paying close attention to.

Operation suggestion: Go long directly in the range of $112,000-$112,500, with a stop loss at $111,700, targeting around $113,300-$115,000. This strategy is for reference only; if there is profit, consider exiting and observing the market, and make sure to set stop losses. #BTC