Currently, the trend of Bitcoin has fallen into a prolonged sideways state. The saying goes, "What goes up must come down." In this situation, we just need to wait patiently. An in-depth analysis of the current market conditions shows that the price has once again returned to around 104600, seemingly performing a technical correction.
From the four-hour K-line chart, it can be seen that the height of the price rebounds is getting lower. It has already tested the 103400 level twice, and although the bottom support is quite strong and has not been broken, each time it drops, it bounces back again. However, this is likely accumulating strength, and it may eventually break the support level. Looking at the overall market trend, it is evident that the bears are stronger. Therefore, for trading today, it is better for us to mainly choose to short.
In the afternoon, the trading idea is to short directly at 105000-105500 with a target, and to watch the mid-line at 103000, aiming for 100000.
