12.18 Bitcoin Market Analysis and Trading Suggestions
The recent breakout rhythm of Bitcoin has made personal offline activities quite busy.
Last night, it broke through to a new high again, leading to excitement. It reached a peak of 108366 and then quickly dipped down; if the competition for long positions isn't managed well, it could result in being trapped or liquidated.
Although the recent trend is strong, it is undergoing high-level consolidation and correction. The Bollinger Bands continue to expand upwards, but the long positions are showing signs of fatigue. A pullback for long positions is occurring during the day.
The four-hour chart has entered a correction phase, with volume beginning to increase; pay attention to the support level around 103000.
If Bitcoin pulls back to around 103000, the target is 106000.
Market conditions change rapidly, and personal suggestions are for reference only.
