$BTC has started to rebound upwards as shown in Chart 1. It fell to a low of 117,300 in the early morning before starting to rebound. The upper channel resistance is at 119,600, so pay close attention to the 119,600-120,000 range to see if there are opportunities for a second short position.
Most altcoins have retraced to key daily support levels, such as UNI, SOL, ADA, etc. Now we are just waiting to see what BTC decides to do: will it directly break through the key resistance level, or will it quickly drop after hitting resistance? The short positions are ready; we just need to wait.
$BTC The market in the past couple of days has really been a wash. This morning it reached the 120,000 position, with selling pressure present, but not very strong. As long as the support at 118,800 holds and doesn't break, it can continue to move up. The altcoin market has clearly shown signs of fatigue in recent days. Currently, there is capital flowing out of the US stock ETF, and it feels like a peak is approaching.
It will be very difficult to touch the top on the left side, but once it successfully touches the top, it will be a significant profit. Waiting for the right opportunity to touch the top.
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