Today’s Bitcoin Trend Analysis

Intraday Support: 108,800-109,500

Intraday Resistance: 112,800-113,500

Bitcoin closed positive yesterday, rebounding to reclaim the psychologically important 110,000 level. The rebound remains weak. The daily M-shaped top suggests there’s currently no room for a sustained bullish trend. The long upper shadow seen on the rebound to 112,000 indicates significant selling pressure, and the previous support level has become a temporary resistance level. Focus on the previous support level. If the price fluctuates back and forth around the 110,000 level, a breakout is expected.

Intraday Trading Plan:

Enter a short position if the price reaches 108,800-109,500.

Enter a short position if the price experiences intraday resistance.