Bitcoin showed strong momentum around 108800 last night, dropping four thousand points, with a morning low of 104500 and a strong pullback. Today, the white metal is stabilizing and oscillating in the 104500-106500 range.
From the high of 2788, the white metal has retraced 200 points in tandem with Bitcoin's downward movement, oscillating in the 2550-2650 range.
Last Friday, the market experienced a deep decline, and this week is also seeing a drop on Friday, making it hard to see 110000 in the near future.
Currently, from an hourly perspective, the bearish trend is gradually weakening, with the MACD above the level and RSI rising, indicating a short-term upward trend. However, the four-hour moving average is declining. As the weekend approaches, it is important to watch if the evening market cannot hold above 106500/2650, as it will continue the oscillating pattern.
Yumi advises short-term operations of buying high and selling low in the evening, with a short-term target of looking up to 106500/2650. If the market cannot break through, then look down to 104500/2450
