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Wednesday BTC morning thoughts
Recently, BTC has been mainly oscillating in the range of 110500-113500. The overall trend is not yet clear, but there are clear trading opportunities within the range; although there was a sharp drop last night, it did not break the key support at 110000, and after reaching a low of around 110700, it stabilized, validating the effectiveness of the support.
Considering the current market, there may be a slight pullback this morning. It is recommended to mainly focus on buying the dip with low leverage, and the specific strategy is as follows:
Long position entry: It is recommended to place long positions in the range of 110600-110000.
Target levels: The first target is looking towards the 113500 level; if it can break through 113500, it can further look up to 114500.
Reverse Strategy: If the long position fails to break through 113500 and there are obvious signs of pressure, a short position can be set up.