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Tonight, favourable information has emerged in the Bitcoin market. Technical analysis shows that the MACD indicator has formed a golden cross pattern, which is a strong bullish signal. This phenomenon indicates that the bullish forces in the market are continuously gathering, and the upward momentum is accelerating.
The current market situation can be likened to a race car that is fully fueled, poised to start, and ready to sprint at any moment. This strong upward momentum suggests that the price of Bitcoin may soon experience a significant surge.
From another perspective, the current support level for Bitcoin is around 117000. The emergence of this support level has effectively curbed the previous downward trend, laying the foundation for a potential rise thereafter.
Investors should closely monitor the upcoming market trends, but at the same time, they must also remember the high-risk nature of the cryptocurrency market, invest rationally, and control risks.