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The current situation has reversed, rebounding after reaching a peak and breaking through the support level of 118500 down by 600 points. I wonder if everyone is taking the opposite position for shorting based on the market data; many players have noticed that the recent BTC uptrend is due to news about the U.S. retirement market opening up to Crypto Assets investment, but the reversal in the current market is due to only one bill passing in Congress. The current support level has pulled back to 115000, and the resistance level has returned to 118500.
Although the 5-day moving average is about to approach the 13-day moving average showing an upward trend, DFI has dropped below the DEA at 0:00, indicating that the downward trend is not yet over in the short term. Currently, the market is in a weak and volatile state, and it is advisable to observe future market changes.
Operation suggestions and risk control tips
It is recommended to consider light long positions near 117500, with a target of 118500. #BTC#