Friday morning thoughts, bottom signals are evident, looking to buy on dips.
Yesterday, the gentle market experienced a slight drop during the early hours, with Bitcoin falling to around 100200 at its lowest point. It then quickly rebounded to 102300 but failed to touch the early morning low again. Currently, Bitcoin is fluctuating around 101100.
Currently, the second dip in the early morning has failed to break below the 100,000 mark, indicating strong support. If it cannot strongly break through this level in the future market, low long positions should still be considered. In the hourly chart, although there have been multiple bearish candles retracing and breaking the lower band, they have not extended further, while leaving many lower shadows. This provides certain support signals at the bottom in the short term, and we are looking for a rebound action at low levels during the day.
The morning reference for Bitcoin is around 101000, with a buy near 100500. Looking up to the range of 103500-105000.