1/8 Friday
Bitcoin Analysis
Technical Analysis: The price of Bitcoin is experiencing clear selling pressure after breaking a strong support zone, and indicators show that negative momentum is still dominant. However, there are signs of forming a temporary bottom between 113,600 and 114,000 with attempts to rebound.
Entry Point: Between 113,400 and 114,100
Stop Loss: 112,950
Targets: 115,300 then 116,500
Expectation within 24 hours: Limited rise is expected if the current support holds
Advice: Monitor the trading volume, any breakout above 115,500 may open the door for a stronger rise
What do you think of this scenario? Do you believe Bitcoin is close to a reversal?