Recently, the Bitcoin market has shown significant volatility. Last month, investors experienced intense market fluctuations, with Bitcoin prices continuously rising at the beginning of the month, but showing a sustained downward trend in the second half of the month. This sudden price movement has led many investors to start questioning whether the current bull run has come to an end.
However, from a historical perspective, each upward cycle is accompanied by a fall. The current fall may just be a weekly level adjustment. After the weekend's consolidation, the price of Bit has fallen again this morning.
Currently, the market is closely watching the key support level of $107,200. If the price falls below this level, it could signify the start of the fifth wave down on the daily chart, with the next support level potentially around $105,000.
In today's trading, $108,250 is an important observation point. If the rebound cannot break through and stabilize at this level, it indicates insufficient upward momentum, and the price may continue to fall. In this case, investors should pay attention to support levels around $106,650, $105,050, and $103,150.
On the other hand, if the price can break through $108,250 and maintain above this level, we might see a rebound from the 1-hour perspective. In this case, the resistance levels above are around $109,450, $110,650, and $111,800.
Overall, the current market is at a critical turning point. Investors need to stay vigilant and closely monitor these key price levels to adjust their trading strategies in a timely manner. Regardless of the market direction, risk management is always at the core of successful trading.
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Recently, the Bitcoin market has shown significant volatility. Last month, investors experienced intense market fluctuations, with Bitcoin prices continuously rising at the beginning of the month, but showing a sustained downward trend in the second half of the month. This sudden price movement has led many investors to start questioning whether the current bull run has come to an end.
However, from a historical perspective, each upward cycle is accompanied by a fall. The current fall may just be a weekly level adjustment. After the weekend's consolidation, the price of Bit has fallen again this morning.
Currently, the market is closely watching the key support level of $107,200. If the price falls below this level, it could signify the start of the fifth wave down on the daily chart, with the next support level potentially around $105,000.
In today's trading, $108,250 is an important observation point. If the rebound cannot break through and stabilize at this level, it indicates insufficient upward momentum, and the price may continue to fall. In this case, investors should pay attention to support levels around $106,650, $105,050, and $103,150.
On the other hand, if the price can break through $108,250 and maintain above this level, we might see a rebound from the 1-hour perspective. In this case, the resistance levels above are around $109,450, $110,650, and $111,800.
Overall, the current market is at a critical turning point. Investors need to stay vigilant and closely monitor these key price levels to adjust their trading strategies in a timely manner. Regardless of the market direction, risk management is always at the core of successful trading.