$BTC

This wave of Bitcoin's 4-hour market can be simply summarized as "first surge and then retreat, now consolidating and building strength."

The recent trend can be described as a small cycle of correction after a surge 🔁. From the chart, we can see that Bitcoin first surged to around 116380 but couldn't hold and fell back to the current 113826, dropping nearly 1% in 24 hours.

The current state can be directly understood as looking for a direction amidst fluctuations. In the fluctuation phase, the most important factors are support and resistance. In the short term, the resistance above looks at the previous high of 116380, and the support below is 113477.

Trading sentiment: Buyers are temporarily in the lead.

In the order book, the "buy orders" account for 76.49%, significantly more than the sell orders, indicating that there are more people wanting to buy in the short-term market, which may support the price from dropping too deeply.

Operation suggestions:

Long at 113000-112500

Target around 116000

Defense at 110000

Breakout at 120000!