Reviewing today's market, after a significant pullback in the early morning, it has fallen into a range of fluctuating conditions, oscillating overall between 103300 and 105500. Both bulls and bears are battling each other. For this type of market setup, we need to be prepared to enter and exit, and strictly set profit-taking and stop-loss points. We are also closely following the market, successfully helping new friends who joined yesterday to capture a space of 1653 points, with a layout in the early morning capturing 724 points, and another layout in the afternoon capturing 929 points. The evening layout currently still holds one position, with nearly 700 points of space.
From a four-hour perspective, Bitcoin is currently in a state of oscillation in the lower band of the Bollinger Bands. At this time, the three tracks of the Bollinger Bands are gradually widening, which usually indicates that the market's volatility is increasing, suggesting that the market is in the early stages of trend formation. Meanwhile, the lower track and middle track form a slight downward probing pattern, indicating that the bearish strength has a certain dominance during this period, with the possibility of further downward testing of prices. On the hourly level, the middle track has become a strong resistance point, with prices attempting multiple times to break through the middle track but failing to effectively overcome its pressure, demonstrating the strong resistance effect of the middle track. Furthermore, the three tracks of the Bollinger Bands form a parallel line pattern, which is a typical manifestation of the market being in a range-bound oscillation state. This indicates that the powers of both bulls and bears are relatively balanced, in a phase of mutual struggle, both attempting to break this oscillation pattern to seize market dominance. In the early morning layout, we can continue to maintain a light position with high selling and low buying, waiting for the announcement of early morning news, and then act accordingly to take a heavy position. (Remember short-term operations, strictly set profit-taking and stop-loss points)
Short sell Bitcoin near 105000, target 103500
Short sell Ethereum near 2530, target 2400
