The recent market trend of Bitcoin has been caught in a stalemate at a high level, with K-lines showing obvious signs of tug-of-war between bulls and bears. The alternating appearance of upper and lower shadows indicates that the buying and selling parties in the market are engaged in a fierce contest over the future direction.

From the daily chart analysis, the body of the bearish candle completely engulfs the previous trading day's bullish candle, forming a typical bearish engulfing pattern. In technical analysis, this pattern usually indicates that the price will soon face adjustment pressure.

When we switch to the 4-hour cycle, the MACD indicator's fast and slow lines have formed a death cross, while the histogram has also changed from red to green, indicating that bearish forces are continuously strengthening. It is expected that the market will maintain a weak downward pattern in the short term.

Trading suggestion:

Short Bitcoin in the range of 1040 - 1050, with a target price of 1020 - 1010. $BTC #BTC挑战11万大关