Yesterday's Trading Review
The main short strategy yesterday suggested shorting in the range of 11000 - 110500, providing investors with two excellent entry opportunities. Each entry was met with over a 1500-point profit margin, making it a stable and rewarding market scenario. Following the trend allows for easy profit growth.
Technical Analysis
From the 4-hour structure chart:
- After a rapid price decline, the candlestick formed a long lower shadow, briefly showing a small V-shaped reversal;
- The market has repeatedly shown bullish traps, but the upward momentum was insufficient, failing to break through the upper pressure zone;
- The price has tested above the 110,000 mark multiple times, showing significant pressure characteristics. Although the current pullback has not fully released its strength, the upward trend has clearly encountered resistance.
Today's Trading Strategy
The range of 106500 - 106000 below is the key dividing line for bulls and bears, suggesting a continuation of the main short strategy today:
- Short entry point: A rebound of Bitcoin to around 109800 can be a setup for short positions;
- Target point: Looking down to 106600 - 106000.
