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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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Recently, the Bitcoin market has shown a downward trend, and investors need to closely follow two important support levels. The first key level is around 118,500; if it can stabilize here, a rebound opportunity may arise. However, if this support is breached, attention should be turned to the secondary support at 117,500.
These two price levels are crucial for the short-term trend. Once a reversal occurs at either support level with increased trading volume, it may indicate the emergence of a long opportunity. If a reversal signal can be confirmed, Bitcoin is expected to challenge the target level of 120,000.
It is worth noting that the market is constantly changing, and investors should consider multiple factors when making decisions, including but not limited to the macroeconomic environment, industry dynamics, and technical indicators. At the same time, it is wise to control risks appropriately and set stop-loss orders.
Overall, although there is downward pressure in the current market, as long as the key support level can be maintained, there is still potential for market growth. Investors should remain vigilant and patiently wait for the best entry opportunity to seize the potential rebound.