1.20 Morning Bitcoin Analysis
After experiencing a rapid dip yesterday, the market has re-entered a consolidation phase with a narrow-range tug-of-war. Overnight, BTC rebounded from lows to around 93,400 but faced resistance and pulled back. Currently, it is forming initial support around 92,000.
From the four-hour chart, the Bollinger Bands continue to narrow, with prices oscillating around the middle band. The moving averages are also converging noticeably, providing some support for the market.
Overall, today's strategy is to focus on a pullback to build long positions.
Bitcoin Trading Sugg
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