After the Bitcoin market failed to break through the 109,000 line in the early morning, it was supported and pulled back to the current level. Is it exactly the same as our strategy? Seeing 108,500 can trigger buying, but there will definitely be a risk of a pullback, so don't be greedy.

In the hourly technical analysis, the price is running in the upper band area of the Bollinger Bands. After touching the middle band, which is a key support level, it has shown a strong rebound, forming an engulfing pattern. The significant increase in trading volume at the bottom further confirms the strengthening signal of the bullish trend.

Looking at the four-hour chart, the three bands of the Bollinger Bands show a continuous expansion trend, and market volatility has obviously increased. In terms of technical indicators, the MACD has formed a golden cross above the zero axis, and the RSI indicator is maintaining strong performance in the overbought area. These signals together indicate that the current market is in the main upward wave phase, with ample bullish momentum. It is recommended to focus on potential entry opportunities when the price pulls back to the middle band of the Bollinger Bands.

In the morning, Bitcoin pulled back near 107,000, and the target is 109,500.