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Recently, the Bitcoin market has shown a clear fluctuation trend, with traders looking for opportunities in this volatility. Currently, the trading range in the market is relatively clear, with the upper and lower boundaries at 120500/119500 and between 116300.
For day traders, shorting near the upper range might be a good option, while considering taking profits in batches within the price range of 117500 to 116300.
It is worth noting that the price range of 116300 to 115200 constitutes an important support area in the current market. As long as the price does not fall below this range, the market has not shown obvious signs of weakening. Therefore, it is advisable to consider establishing long positions near this range.
Overall, in this fluctuating market, flexibly using range trading strategies may have more advantages. Traders need to closely monitor the price performance at key support and resistance levels to assess short-term trends. At the same time, they should also remain vigilant for potential sudden market changes and adjust their strategies promptly to adapt to market movements.