Bitcoin Approaches Strong Support at 118,800 with Bullish Pattern Setup

I have purchased Bitcoin (BTC) during every dip, especially around technical support levels like the 118,800 mark, which previously acted as a strong support zone. This area also coincided with a W pattern formation before a significant spike up to 122,000 yesterday, indicating potential bullish momentum. By accumulating more BTC at these strategic technical levels, I aim to capitalize on potential upward movements as the market reacts to these support zones and pattern formations.

The market's behavior around the 118,800 support, combined with the historical pattern of rebounds from similar areas, suggests a possible bullish continuation. Technical analysis supports the idea that buying near strong support levels can provide favorable entry points, especially if the previous pattern played a role in the subsequent rally. Therefore, my strategy focuses on reinforcing my position at these critical support levels to maximize gains in the ongoing bullish trend.

Overall, I believe that Bitcoin's current price near the 118,800 support is an advantageous entry zone. The prior formation of a W pattern before a spike gives added confidence that this area could serve as a springboard for further upward price movement. Carefully monitoring price action around this support level will be crucial for managing positions effectively and leveraging the potential bullish trend in Bitcoin.