Get in the bearish position, waiting for takeoff!

Yesterday, Bitcoin rebounded after a pullback near the 103750 level, and the price subsequently moved up to around 105800 before facing resistance and retracing again. It seems both bulls and bears are starting to get stuck, but we are currently in a weak phase, indeed!

From a technical perspective, the daily chart shows that after a previous one-sided rise, we are now experiencing a short-term decline, and the overall trend is weakening. The strength of the rebound is relatively small, so we should not chase prices easily at this stage. Looking at the 4-hour chart, it indicates a volatile downward trend, and under weak conditions, rebound opportunities should be short!

Monday morning suggestions:

Short Bitcoin at 106-105, target focusing on 103-101.

Short Ethereum at 2540-60, target focusing on 2450-2300.