$BTC On the four-hour chart, after experiencing a significant rise, the market is now beginning to clearly pull back. The bears have pushed the price below the upper band of the Bollinger Bands with a large bearish candle.
From a technical indicator perspective, the three lines of the KDJ have crossed downwards and continued to decline, and the RSI indicator is also moving downwards, indicating that the buying pressure in the short term is weakening while the selling pressure is increasing. This large bearish candle not only engulfed part of the previous gains but also saw a significant increase in trading volume, indicating that bearish strength is still accumulating.
Looking at the one-hour chart, the market continues to decline, having closed several bearish candles in a row, and is currently testing support near the middle band of the Bollinger Bands. If this middle band support is not held, the price may continue to decline.
In summary, for morning operations, be cautious in shorting, and pay attention to the position near 107000; the target below is the 105000 area.
Personal opinion, not investment advice.
Instead of fumbling around blindly, it's better to follow along and let you easily turn over in this bull market. Big market trends have already been grasped by Brother Yong, and you're just one step away 🤪
Intraday focus: OM SUI SOL BTC FUN
