Analyst: $108,000 to $118,000 may become the key support area for Bitcoin

Crypto analyst CrediBULL Crypto wrote that Bitcoin broke through its previous high and started a new stage of rising to $150,000, but did not rule out the possibility of a pullback to the $108,000 to $118,000 range. If the price pulls back to this area, it should become the strongest demand area because most entities try to close losing short positions at the break-even point, or buy back their positions if the market structure has broken upward.