Market Analysis
Bitcoin once again hit a historical high yesterday. Those who entered at 103739 to go long are enjoying profits, but it's important to understand the need for taking profits in batches and adjusting stop-loss levels to prevent excessive drawdown.
Returning to the current market, Bitcoin has shown a significant drop at the 4-hour level, reaching our entry point of 105109 given yesterday. Those who have entered can consider exiting at break-even for now, as there is a high likelihood of breaking this support due to the volume increase at the 4-hour level. We will first observe whether the closing at 12:00 remains below 105109. If it closes above 105109, it wouldn't be too late to enter for a long position. Those who prefer a conservative approach may still enter long at the position of 103739.
