Market Trend Analysis
Due to the market closure of the S&P yesterday, the market continues to fluctuate with limited volatility. The index oscillates around the 110,000 mark, entering a phase of high-level consolidation, making this position a key battleground for both bulls and bears. The future upward movement of the index depends on whether there is a large influx of funds and whether major favorable macro data materializes.
Four-Hour Level Trend
After a peak and pullback, a strong support area has formed around 106,000; the upper side has not further tested the high, with the historical high halting at 112,000. Although the current trend shows signs of a pullback, it has not yet broken the upward trend line. It is crucial to pay close attention to the breakdown of the 106,000 support level, as this point is an important dividing line for bullish and bearish trends.
Daily Level Trend
After briefly refreshing the high, the price has come under pressure and closed with a decline; although it has since closed with consecutive gains, the trading volume has not effectively increased, indicating insufficient upward momentum, and a pullback is expected in the short term.
Weekly Level Trend
A significant seven consecutive days of gains have been realized, with a notable V-shaped reversal pattern, but the butterfly pattern is nearing its end. Currently, the bullish volume shows a hollow arrangement, lacking the momentum for a sustained upward movement, and various indicators point towards a pullback, suggesting that the market is about to shift to a bearish volume dominance.
Comprehensive Judgment
Based on the analysis of various cycles, the index is about to enter a phase of decline and accumulation, and only by attracting more funds to enter the market can it hope to achieve effective breakthroughs and refresh highs in the future. In the short term, it is recommended to adopt a bearish approach unless significant positive news reverses the situation.
Today's Trading Suggestions
Consider shorting when Bitcoin rebounds to the 110,000 - 110,500 range, with the target price looking down to 106,600 - 106,000.
