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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Bitcoin showed an unexpected performance over the weekend. Following a breakout on the daily chart, the market experienced a strong rebound.
This rebound has pushed the price to around $119,000, just reaching the high point of the daily chart segment, forming an important resistance area. If Bitcoin cannot break through this level, we may see the market experience a pullback. For traders who have already established short positions, the previous high of $119,000 can serve as an important reference point.
However, if this resistance level is broken, the next pressure point to pay attention to is around $119,800. On the downside, $117,000 is an important daily chart support level. If the price falls below this level, it may trigger a rebound in the short term. In this case, the next major support area will be between $116,000 and $115,200.
Currently, the Bitcoin market is at a critical decision point. Investors and traders should closely monitor the performance of these key price levels to assess the potential direction of the market in the short term. Whether it breaks above the upper resistance or falls below the lower support could trigger a new round of price fluctuations. In this uncertain market environment, risk management and cautious operations are particularly important.