Bitcoin analysis for Saturday morning, October 12:

The market showed a strong V-shaped reversal yesterday. After once falling to the key support level of 59,000 in early trading, it quickly rebounded violently, with an intraday gain of nearly 4,500 points. Market volatility is expected to subside as the weekend approaches.

Currently, the price is approaching the recent high of 63,400. This area is facing strong pressure, and the risk of a correction after a strong rise has increased significantly. While yesterday's gains were in line with our initial expectations, the strong performance from the bulls still exceeded some expectations.

In view of the possible market shocks at the weekend, it is recommended to adopt a flexible strategy of selling high and buying low, while remaining vigilant to prevent the emergence of top divergence signals or the concentrated release of bull power again. On the upside, we need to pay close attention to the breakthrough of the 64,000 mark. Once there is an effective breakthrough, we can consider chasing the increase appropriately to capture potential gains.

Bitcoin’s target near 63300-63800 is 62000-61000$BTC #6万保卫战 #美国9月PPI年率高于预期 #多军的反击 $ETH $SOL #BTC☀ #ETH🔥🔥🔥🔥