9.16 BTC Morning Analysis

Looking back at the trend, last week the Bitcoin price rose slowly throughout the week, peaking around 116,757, then stopped and retraced, currently pulling back to around 114,384, with a distance of 2,500 points up and down. Above 116,000, Jiang Wei decisively turned bearish, which perfectly aligned.

Currently, on the four-hour level, the candlesticks are showing pin bars both up and down. The overall trend is likely to fall into a range-bound oscillation rhythm. The current candlestick price is forming lower shadows, with reduced strength below, starting to show fatigue, and the overall performance is beginning to trend upwards. Therefore, the suggestion for the day is to look bullish.

Recommended to look bullish in the pullback area of 115,300-114,800, with a target around 116,500.

Follow Jiang Wei's public account, for what can relieve worries, only Jiang Wei.

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