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Recently, the Bitcoin market has shown a trend of severe Fluctuation, and the price movement has attracted widespread attention from investors. The latest analysis shows that Bitcoin has fallen below an important trend line, with a drop of about 2000 points occurring in a short period.
Market observers point out that the key support level for Bitcoin currently lies around 113500. It is expected that in the next two days, the Bitcoin price may test this level. If it cannot hold, it may continue to fluctuate downward, with the final retracement target possibly pointing to around 110000.
However, the market is not entirely pessimistic. Analysts believe that once it reaches the 110,000 mark, the Bitcoin price may rebound. The long-term target still looks optimistic at the 136,000 level.
It is worth noting that the upcoming speech on Friday may have a significant impact on the market. If the content of the speech leans hawkish, Bitcoin may further fall to around 95000. Conversely, if it shows dovish tendencies, 110000 is likely to become the bottom of this round of decline.
Investors should closely follow market trends and manage risks wisely. The high fluctuation of the Bitcoin market means that opportunities and challenges coexist, making cautious decision-making crucial.