This morning, the market experienced a significant rise, with bullish momentum clearly dominating. However, the more one-sided the upward trend, the more one needs to remain rational and avoid blindly chasing after increases. It is recommended to attempt to establish short positions at high levels in the morning session to take advantage of price pullback opportunities.
From the daily chart analysis, the candlestick has closed with small bullish candles for several consecutive days, and the mid-term moving average (Bollinger Bands middle line) has formed strong support. Bearish forces have consistently failed to extend effectively, fully confirming the stability of the buying support below.
Switching to the 4-hour cycle, the Bollinger Bands channel continues to narrow, indicating reduced market volatility. If an effective breakthrough cannot be formed in the short term, it is highly likely to fall into a range-bound oscillation trend.
Bitcoin: Short in the 975 - 980 range, target 950 - 930, stop at 985
