Today's Bitcoin market continues to fluctuate, with a short-term bearish technical outlook. The price is alternating between small declines and small increases over a four-hour period. Currently, the price is consolidating above the middle band, and the Bollinger Bands are continuously narrowing. The ongoing high-level fluctuations indicate a brief calm before the storm. The MACD indicator has already formed a death cross, signaling that a change in trend is about to start. The hourly chart shows that the price has rebounded to near the middle band, supported strongly by the lower band, and a directional decision is approaching. Various indicators suggest that the possibility of the price reaching new highs is low, so the subsequent trend is likely to manifest as a rapid pullback after a rebound under pressure.
Short positions can be taken on Bitcoin around 107500-108000, with attention on the vicinity of 106000. For Ethereum, short positions can be taken around 2450-2480, with attention on the vicinity of 2350.
