It's a new week again, brothers, good morning. The fluctuations have not been very large in the past two days. Over the weekend, the price of the coin experienced a slight rise, and after facing some resistance around the 105,000 mark, it began to retract. Currently, the market is still adjusting above 103,000, with the coin price pulling back to around 103,800.
From the current trend, it is clear that there is pressure above at 105,000, and support below at 103,000. For the past two days, it has mainly been oscillating within this range. However, a new week is about to begin, with new fluctuations and a new journey ahead. Furthermore, from the hourly charts, after a rise, a pullback is inevitable. It is evident that the bullish momentum is not strong enough to support further upward movement. If it breaks below 103,000, it will continue to explore down towards 102,000. In the morning, we should not hastily set limit orders to short; the coin price will pull back before starting to decline. First, look for a rebound before trying to short.
Bitcoin Strategy: Short around 104,500, target 102,500.
