The market at $BTC is at 107400 points, forming a KDJ MACD double death cross on the 15-30 minute indicators. Bearish energy is gradually being released, leading to a decline, making it a good entry point for the 'Short Probe' method.
However, 106700 is the EMA double track support on the hourly chart, and the lower band of the 4-hour Bollinger Bands is also nearby. There isn't much profit unless the market can break 106200; if this level is successfully broken, there is a probability of a reversal. Currently, the overall market still looks bullish!
It is not appropriate to short in the vicinity of 106700 at this time, as it is only 500 points away from 106200, which is meaningless. The overall market still leans towards going long.
Additionally, those who traded between 107500-108400 today, especially near 108400, should consider how 107400 was hedged based on the indicators, so shorts can be exited. If not, then don't short now; calmly wait for the upcoming pullback.
