Market Insights: Bitcoin Pullback Possibility Analysis and Target Price
Bitcoin has recently rebounded rapidly from $49,000 to $62,800, and is currently trading sideways around $60,800, with market sentiment gradually turning cautious.
After a rapid rise, the pressure for a pullback has increased, mainly due to profit-taking and technical resistance.
Key retracement targets worth paying attention to:
- **$59,500**: 50% Fibonacci retracement level, which may become short-term support.
- **$56,000**: 61.8% Fibonacci retracement level, which may become an important support if market sentiment weakens.
Stay vigilant, respond flexibly to pullback risks, and operate rationally.
