Intraday market has completed smoothly, and the intraday currency price is still undergoing a fluctuating correction adjustment. However, after the rapid rise in the previous days, it has turned around and retraced during the day, indicating a change in the overall trend. This also confirms the analytical thoughts I provided earlier today; today, all short positions set at several high points have been profitable, with little fluctuation in the market, allowing for several hundred points of space in City C. For this market situation, being able to maintain an active stance at all times is advantageous; when the trend reverses, one can retreat calmly. Therefore, when the market arrives, one will surely taste the fruits of victory.
From a technical perspective, after three consecutive daily gains, it has reversed with a small bearish doji and a longer upper shadow, reflecting strong pressure from the upper resistance level, and the bullish momentum is gradually weakening, with the situation still reversing. On the four-hour chart, after the price surged, it has closed with four consecutive bearish candles, the daily moving average is moving downwards, and the MACD fast and slow lines are about to merge, with a death cross not yet formed. All indicators show that a downward trend has already formed.
Short positions for Bitcoin should be initiated in the range of 107000-107500, with attention to the vicinity of 105500. For Ethereum, short positions should be initiated in the range of 2430-2460, with attention to the vicinity of 2330.
