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Bitcoin entity breaks the downtrend line, pumps above 113500, turns to go long!
After the evening PPI announcement, Bitcoin surged briefly before continuing to rise gradually, breaking the recent quiet range. A large bullish candle once reached the 114300 level before retracing. The bullish candle closed healthily, and currently, we are watching whether it will find support on the 112500 level during the pullback.
In the early morning, I still have a positive outlook for a pullback. For a trend reversal market, we will go long on the pullback rather than chasing the rise at high positions, and we will not closely focus on shorting!
Bitcoin early morning thought reference:
Pull back near 112500 to go long, defend at 111500, target 114800, swing target 116800!
#BTC #ETH #PI