#Gate ETH十周年回馈# #Gate Launchpad IKA上线#

Bitcoin experienced a slight pullback to a low of 117790 overnight before rebounding and directly climbing to a high of 119435, where it faced resistance. From the current market perspective, a short-term effective support has formed at the daily level. The price has rebounded to the upper boundary of the previous consolidation range, and although the hourly chart shows a pullback followed by a rebound, the price has effectively broken through the mid-band resistance of the Bollinger Bands and stabilized. At the same time, the Bollinger Bands are showing an expanding trend, indicating increased price volatility and opening up upward space. The technical pattern shows that the candlesticks are forming a gradual higher low oscillating upward pattern. If the price cannot break through the resistance around 120,000, there is a risk of another pullback for support. Conversely, if it breaks through and stabilizes, the market is expected to open up upward space. Currently, the trend is characterized by wide oscillations, with prices fluctuating back and forth within the range recently. It is still recommended to sell high and buy low!