Bitcoin $BTC long positions sentiment is sluggish, the price upward momentum has weakened, the market pullback has entered a high-level consolidation, with a low pullback around the 116870 line showing a rebound. Subsequently, there is resistance around 118200 as the price moves upward. Currently, the price is running around 117500, with both bulls and bears relatively stuck, and it is expected that the oscillating market will continue for a while. The upward momentum has reached a pause. Although there was some upward movement near the opening high during the day, there has not been a significant breakthrough in the overall trend, and it is currently undergoing a slight pullback entering high-level consolidation.

From the daily chart perspective, yesterday's doji candlestick closed with a bearish body, and the coin price fluctuated near the upper axis. The long positions sentiment has temporarily eased. However, if the price does not break below the support level of 116000 in the subsequent pullback, the market will still lean towards upward movement. Nonetheless, with insufficient supply afterward, pressure appears near the high of 118200. In the short term, the upward momentum is weakening, but the overall direction remains unchanged. The short-term trend is undergoing a corrective adjustment. A cautious approach for intraday operations is to buy on pullbacks, and if the upward movement breaks through, one can choose to enter with a light position to capture short-term gains.
#BTCUSDT $BTC