$BTC

Today's Bitcoin price fluctuates between 110,000 and 111,900. On the technical side, the daily MACD shows a bearish divergence, and the momentum is weakening. The upper Bollinger Band at 112,000 constitutes strong resistance, and the price is already overbought. In the 4-hour chart, the Bollinger Bands are expanding, with the upper resistance level rising to 112,500, while the middle band at 108,000 serves as important support, indicating a clear demand for a short-term pullback.

Bitcoin can be shorted in the range of 112,000 to 113,000, targeting 110,500.

If the support is broken, further declines can be expected.