The key level of BTC mentioned in the morning is 118500, and it has now completed the breakthrough. Technically, it has also accomplished an effective upward attack after the previous consolidation, further confirming a strong trend.
From the price structure perspective, this wave of increase continues the rebound logic after halting the decline. The bulls not only maintained the key support at 115600 but also broke through the important resistance area at 118580, gradually establishing their initiative. The trading volume has also cooperated, with the increase in volume representing market recognition of the current price, indicating that the short-term strength is not just a false rally.
Next, we can look towards the target of 120000. If the price falls below 117300, it will mean a false breakthrough, and timely avoidance is necessary.
