Yesterday, after entering the market at the resistance level, the price had a drop potential of over a thousand dollars.
However, the market's bullish sentiment remains extremely strong. When the price fell near the support level of the range, a V-shaped reversal quickly occurred in the evening.
Subsequently, Bitcoin did not show a downward trend, so in this situation, short positions should be minimized. Currently, the price of Bitcoin is around 106800, at which point one can wait for a price pullback to go long.
From the chart, Bitcoin has now formed a relatively standard upward channel. The next step is very likely to pull back to around 105500, at which point one can open a long position at this price level, with the expected target to break through the new high again.
