Bitcoin Pullback: Opportunity or Trap?
This week, BTC surged to $111,980, setting a new high, and then quickly fell back to $104,600. It is currently fluctuating around $106,000. Short-term funds face cashing out pressure, and market sentiment is cautious.
Key levels to watch:
Support level: $106,000, dropping below this may trigger a $23.47 million long liquidation.
Resistance level: $110,000, only breaking above this could lead to further gains.
📌 How to operate?
Short-term: Stabilizing at $106,000 can be an opportunity to buy the dip, but caution is needed if it falls below.
Medium-term: The trend remains, and entering in batches below $100,000 is more prudent.
Don't forget, the closer the market gets to historical highs, the more likely it is to undergo fluctuations and washouts. Patience, risk control, and gradual entry remain the key strategies.
