Since last night, the coin price has been on a rise, starting from around 100,038 and reaching 100,058 this morning. This one-sided increase has exceeded a space of 2,000 points. Unfortunately, our bearish outlook in the early morning was wrong, and we hit our stop-loss; there are no invincible warriors in the crypto world. A mistake is a mistake, there’s nothing more to say. Currently, the price is around 105,400.
In the one-hour Bitcoin trend, the Bollinger Bands show that the price is fluctuating near the upper band, with strong resistance and no effective breakout, trending towards the middle band. If it falls below the middle band, the bears will have the advantage; the MACD histogram is shortening, indicating a decline in bullish momentum. The distance between the DIF line and the DEA line is narrowing, which will form a death cross, a bearish signal; the KDJ indicator shows all three lines in the overbought zone and turning downwards, indicating market overbought conditions, with bulls likely to lose strength and bears possibly launching a counterattack. Overall, its upward movement is weak, and bearish strength is building up, posing a significant risk of price decline in the short term.
Bitcoin strategy: Short near 105,800-105,500, target 103,500
Ethereum strategy: Short near 2,540-2,530, target 2,475
