BTC Midday Look: Short-term Bias is Bullish but Beware of Corrections

BTC has held around 109300, then slowly rebounded, with funds also coming back in, and the MACD looking strong; the short-term trend is still leaning towards an increase.

However, attention should be paid to the 112200 to 11300 area, where trading was previously very dense. If the trading volume does not increase afterwards, the risk of rising and then falling back down will be significant.

In terms of regulation, the SEC is currently reviewing the fees and redemption rules for spot ETFs on a quarterly basis. If margin requirements are suddenly raised, there may be some selling in the short term, triggering volatility.

From a technical perspective, the RSI is already overbought, and the trading volume has not caught up. If the volume does not increase over the next two days, be cautious of a "top divergence," which could lead to a rapid decline.

In terms of strategy, it is recommended to mainly buy at low points, with a small amount of short selling at high points for assistance. Focus on the key point at 111000 and the resistance level at 112200, paying particular attention to whether the trading volume at these two levels can align. Regardless of bullish or bearish positions, it is essential to strictly set profit-taking and stop-loss levels to cope with possible significant fluctuations.

Viewpoint around 110400-111000, with the target first looking at the range of 111300-111600. #BTC☀