In the early hours of today, the Bitcoin market showed some volatility. From a Technical Analysis perspective, the overall market trend still leans towards long positions, but in the short term, investors need to closely follow the effectiveness of the key support level at $118,000.
If Bitcoin can successfully hold this support level and rise back above $120,000, it is likely to continue the previous upward momentum. However, if the price falls below the 20-day moving average support, we may see further pullbacks, potentially even down to around $110,000.
It is worth noting that in the current