BTC: Oscillating to build a bottom

10月12日

Over the weekend, after a sharp decline in the early stage, the Bitcoin price is currently in a shock - bottoming phase. In the early stage, the short - selling force was strong, pushing the price down rapidly. However, over the weekend, the price fluctuation range gradually narrowed, indicating that the strength of the long and short sides tends to be balanced in the competition, and the market is looking for a short - term direction.
Although Bitcoin rose in oscillations today, it encountered resistance near 112,500 and failed to break through after several attempts. This position has gathered a certain number of trapped orders and active sell orders, forming a short - term resistance range. If the bulls can gather enough strength to break through the 112,500 with increased volume, the upward space will be opened, and the price may further challenge the resistance levels of 115,000 or even 120,000. However, due to the sharp decline in the early stage, the market sentiment is still relatively fragile, and investors are generally cautious. From a technical point of view, Bitcoin is likely to continue to oscillate and consolidate in the range of 108,000 - 115,000 today, and the long and short sides compete around key levels.

Buy 108000 - 110000
TP 113000 - 115000
SL 106000

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10月12日

交易开始

As we mentioned today, BTC is likely to continue to oscillate and consolidate in the range of 108,000 - 115,000 today, and the long and short sides compete around key levels.