BTC Trend Analysis

Support Levels:

First Support: 116800 EMA52 four-hour level minor support, short positions can take half profits at this level

Second Support: 115800 frequently mentioned lower support point, repeatedly tested rebound position

First Resistance: 120000 (previous high dense area), needs significant volume breakthrough to regain main uptrend, considered a new high.

Second Resistance: around 120800 (previous initial closing high), needs significant volume breakthrough to regain main uptrend, considered a new high.

Trading Suggestion for BTC:

I suggest maintaining a "consolidation with a bearish bias" trading rhythm:

The major trend has turned bearish in the short term, place short orders to enter the market, wait for a dip before entering, and set a stop-loss below the new high of 121300.

Last week's long position at 115800 was initially thought to be at risk, but it barely missed getting stopped out, just right for a rebound, reaching the highest position with a gain of 4000 points.