Bitcoin market analysis today

Currently, I am watching the potential entry range of $60,600 to $60,200. If the market shows a WXY correction, I think the price is expected to find support near the 1:1 Fibonacci retracement level and rebound.

However, if this support level fails to effectively resist the decline, the price of Bitcoin may fall further, breaking the $59,800 mark and continuing the downward trend indicated by the green arrow. On the contrary, if the price can stabilize and rise, it is expected to continue to climb along the path indicated by the red arrow.

Today, $59,800 has become a crucial price watershed. Here, I strongly recommend that you do a good job of risk control, especially for contracts with high leverage and large positions, to ensure the safety and stability of trading strategies.

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