Analysis at 12:18 AM;

The current market shows that after breaking the new high yesterday, Bitcoin has experienced a downward correction. After multiple attempts to find a bottom, there have been no signs of a breakout; the bearish trend is gradually weakening, and the downward space is continuously shrinking, while the upward pressure is relatively small.

From the daily chart perspective, the trend remains solidly above the three-day moving average. Last night’s correction quickly rebounded after reaching this moving average, indicating that this moving average has strong support.

Observing the 1-hour chart, we can see that the trend is oscillating around the middle band of the Bollinger Bands, and the bearish strength has clearly diminished. It is expected that in the early morning hours, the bulls will continue to capitalize on their advantage and reclaim more lost ground.

Therefore, in terms of operational strategy, we will continue to adopt a low-buy approach for layout.

Buy Bitcoin around 106000-106500, target 108000-110000

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