The price of the coin made another surge in the early hours of today, reaching the pressure point above 108 and then quickly rebounding to around 107 for consolidation. Currently, the coin price is again fluctuating around 107. The strategy we provided last night has also been perfectly validated. The short position set up at 107940 in the early hours today has strongly captured a space of 1030 points at the 106910 level. If you are not managing the current trend well, you might consider following Zhiyu's strategy.
From a technical perspective, the four-hour chart reflects a slow downward fluctuation pattern of the coin price, gradually approaching the mid-track. After a series of continuous upward movements, the bullish momentum is continuously diminishing, and the overall trend is beginning to show a downward tendency. However, currently supported by the mid-track, it can only operate in fluctuations. On the hourly chart, the Bollinger Bands are in a narrowing posture, and the opening is gradually moving downward, giving a short-term correction signal. The price is expected to decline in the short term, but there are no significant breakout signals. The short-term market is still in a correction rhythm; if the coin price cannot stabilize above 1075 during the day, it is expected to continue testing downward. Therefore, caution is advised for chasing highs in the short term, and the strategy should focus primarily on short positions.
Short position near 107500 for Bitcoin, watch around 106000; short position near 2450 for Ethereum, watch around 2350.
