The morning Bitcoin trend appears to be rising, but in reality, it is a false impression. The market did not sustain the rise, only a slight rebound occurred, and after the price reached the 108,900 level, it fell all the way down, exposing the weakening strength of the bulls, and the market has turned into a bearish trend. The strength of this rebound is not strong, and the bulls lack momentum, making it highly probable that it will face downward pressure in the future; today, we still maintain a bearish view on the rebound.
In the four-hour structure, the market maintains a large range of fluctuations and is unlikely to break through the previous trend. Due to significant pressure at high levels and weak bullish rebound strength, both the highs and lows are decreasing, showing a bearish oscillation pattern. The operation should mainly focus on shorting at high levels, and the market should continue to maintain a bearish view on the rebound.
Afternoon operation strategy: Short directly between 107,000-107,500, targeting 105,000.
