Monday afternoon Bitcoin market analysis and trading suggestions

After stabilizing at the key support level of 116800, Bitcoin quickly rebounded in the morning, rising over 2000 points to 118800. Our previous position has already taken profit and exited. The market once again confirms: following the trend is better than being stubborn about direction, and strict stop-losses are the foundation for long-term survival. In the afternoon, bullish thoughts are given again as the market moves, with Bitcoin and Ethereum rising simultaneously to around the 118800 line and near the 3800 line. In the afternoon, avoid blindly chasing the rise.

The technical formation has established a bullish pattern: the 4-hour chart confirms a double bottom structure. MACD has formed a golden cross and the momentum bars continue to expand. RSI has broken through the 50 midline and entered a strong area. Key support has moved up to the 117500-117800 range, with the primary target above looking at the 119500-120000 level. If it effectively breaks through the previous high of 118800, combined with increased volume, it will open up further upward space.

Operation Suggestions:
Conservative investors should patiently wait for a pullback in the 117800-118000 range to gradually build long positions, with a stop loss set below 117300, aiming for 119500-120000. Aggressive investors can try a small long position now, focusing on the stability around the 118800 level.

Risk warning: Be alert to the potential impacts brought by the volatility of the US stock market opening, and maintain operational flexibility. Strictly controlling positions is always the core of risk management—it's better to miss out than to excessively chase highs.
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