8.4 AM BTC trading ideas:

BTC faced significant resistance near 115700 last night and fell under pressure. From the 4-hour candlestick perspective, three candlesticks with long upper shadows have formed. This pattern is a direct reflection of market signals, clearly indicating that there is strong pressure above the current price. The bulls failed to make an effective breakthrough when pushing into this area, and the bears hold a clear advantage.

At the same time, observing the volume indicator, the volume moving average has not shown a significant upward divergence trend. This phenomenon directly reflects that during the recent rebound process, the market buying power has consistently failed to effectively accumulate, resulting in an inability to form a sustained and strong buying momentum. The support base for the rebound is not solid, making it difficult to support a further upward breakthrough of the key resistance level.

Based on the analysis above, the entry point for today's long position can be determined around 112600. This position serves as a replenishment point during the left-side adjustment process, has certain support logic, and is a stage of equilibrium formed during previous price fluctuations. Entering at this point can reduce short-term pullback risk to some extent.

The long position has a clear target, with the first target set at 114000. This position is the midpoint of the recent price fluctuation range, which carries certain short-term profit-taking pressure.
The second target is 115700, which is the resistance point from last night. If this level can be broken, it will indicate that the pressure above has been digested, and there may be further extension in the subsequent market.

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