The price of the currency has shown a trend of slow upward fluctuations since early this morning, with no significant volatility during the day. The highest point was around 106791, followed by a pullback to around 106200 for continuous oscillation and adjustment. Our short position set up at 106741 exited at 106055, gaining a space of 686 points, with Ethereum's movement synchronized with Bitcoin.
On the technical side, the four-hour chart shows a 'slow step' pattern of seven consecutive small upward candles, indicating that since the price dipped to the 98200 line, bullish momentum is still being released. The continuous long upper shadows suggest that the current bullish advantage is not significant. Excluding the impact of news, it is difficult to break through the upper resistance level in the short term, thus the price running trend will continue to revolve around range oscillation and correction. On the hourly chart, the price is oscillating between the middle and upper bands, with the market showing a slight rebound after adjustment. Considering various technical indicators, the upward trend is gradually nearing its end, so in the afternoon, we will operate with a strategy of shorting on rebounds.
Short Bitcoin directly around 106500, paying attention to around 105000. Short Ethereum directly around 2450, paying attention to around 2380.
