#BTC Today's Thoughts
Bitcoin on the four-hour level may continue to oscillate or even decline in the short term.
There have been several bearish signals in the market, and technical indicators show that the downward momentum is strengthening, so it is recommended to focus on buying at low levels during the day, rather than rushing to chase the price up.
Why consider going long instead of shorting?
For example, if a car starts going downhill, even if there are flat roads or slight uphill sections in between, the overall direction is still downward.
However, the current situation for Bitcoin is the opposite; the overall trend is actually upward. Shorting now is like driving against the main direction, which carries higher risk.
A safer approach is to wait for the price to drop to support levels before buying in, making money in line with the trend.
Last night, Bitcoin oscillated within a narrow range, with buyers and sellers in a stalemate, and low trading volume, showing no clear direction.
Now the price is stuck in the middle area of the Bollinger Bands, and the bands are gradually narrowing, indicating that volatility may decrease, making it difficult for significant price movements in the short term.
Wait for a pullback to the support levels before gradually going long, and avoid frequent trades at the middle price levels.
Don't try to guess the top or bottom; focus on key support levels, buy when it hits the level, and reduce positions if it can't rally.