[October 10 BTC Morning Strategy Analysis]

BTC quickly rebounded after testing the key support level of $120,000 again in the early morning, indicating significant buying interest at this integer level. This round of adjustment is mainly due to the short-term profit-taking triggered after the price surged to $126,000. The intraday market has entered a phase of consolidation, with trading volume shrinking compared to the previous day, reflecting the tug-of-war between bulls and bears within the range.

From a technical structure perspective, the daily moving average system still maintains a bullish arrangement. Although the MACD has shown signs of weakening at high levels, it has not yet departed from the strong zone. The key support level is at $121,000, which is not only the starting point of yesterday's rebound but also resonates with the lower boundary of the recent fluctuation range. Market sentiment has slightly retreated from the extreme greed value, and the current fear and greed index remains at 70, indicating that the market is still in a relatively heated state. Ample liquidity will continue to restrict the depth of any corrections.

Operation Suggestion:
Long positions around 121400, target range 122700-123400.