The price of Bitcoin has basically peaked at 110,000!
In the short term, don't expect it to directly surge to 120,000 or even 150,000, but don't be discouraged. Once this wave of correction ends, there's a high chance for another opportunity to reach new highs.
Recently, the situation in the Middle East has been intense, with Israel and Iran firing missiles at each other. Even Binance country has made big news — reportedly, an Iranian nuclear expert was precisely targeted in a luxury villa, turning cash and gold to ashes, and tens of thousands in the surrounding area have suffered as a result. During such times, gold is sure to rise, but Bitcoin's hedging properties haven't been reflected at all. The previous news of various countries stockpiling gold now seems like a facade.
The technical indicators are already quite clear: the daily moving averages have started to turn downwards, and the MACD has crossed into a death cross, confirming the trend of correction. Although there was some capital support yesterday that prevented a direct collapse in price, it's highly likely that we'll see fluctuations between 100,000 and 106,800 in the short term. It is recommended to open a short position when the price rebounds to around 106,800, setting the stop loss at 107,500, with the target initially looking at 104,000. If the price drops to around 100,000, a short-term rebound can be taken, but do not be greedy; take the profit and run.
The three-day line is even clearer; the top at 110,000 has been firmly established, and the medium to long-term outlook is mainly bearish. Spot traders should not rush to buy the dip; let's wait for a drop below 100,000 first. Remember, the market makers don’t need real news to drive prices up or down; they always look for excuses to harvest retail investors. In this market, it's better to earn less rather than take on unnecessary risks.
We are already monitoring the upcoming key support levels in our circle. Interested friends can join us; watching the market isn’t just for entertainment; it's about setting up early and truly capitalizing on the opportunities.