Bitcoin Maintains Support Above $110,500 Despite Gravestone Doji Formation
Cryptowzrd's latest analysis indicates Bitcoin closed with a gravestone doji, maintaining support above $110,500. Key points include:
- More bullish candles are required to reach the $120,000 resistance.
- Despite a weak NFP report, market sentiment remains supportive for Bitcoin.
- A series of bullish daily candles is necessary for confidence in a price rally.
- A drop below $110,500 could lead to a correction towards the $100,000 level.
- Decisive movement above $113,200 could signal stronger bullish momentum.
Intraday volatility persists due to fundamental factors and the NFP print, influencing traders' decisions. The analyst emphasizes waiting for a mature trade setup before proceeding.
