10.13 Yufu Early Morning BTC Analysis:

The current Bitcoin price is 113700, situated within a key support and resistance range, with a clear overall oscillation pattern. From a technical perspective, a bullish engulfing pattern has formed near the strong support level of 110000, indicating rebound momentum; however, the extreme reduction in trading volume and the bearish arrangement of moving averages create a strong divergence, raising doubts about the sustainability of price increases. After a drop to 109561 on the daily level, a rebound occurred, confirming the effectiveness of low-level buying support.
From the 2-hour timeframe, the price quickly rose from 111297 to 113189, showing a short-term rebound trend. The MACD indicator indicates that short-term bullish strength is increasing, but overall it is still in a weak zone. If the K-line continues to stabilize above EMA30, it may further test EMA120. It is advisable to be cautious in opening short positions in the short term and consider trying short long strategies.
Suggested entry point for BTC is 111500, with a support level at 111000, stop loss at 500 points, and target at 113500.