The price of Bitcoin has reached its highest point on the way, close to 110,000.
With the positive news from yesterday's non-farm payrolls and the low opening of the US stock market,
the price of Bitcoin has risen sharply, exceeding our expectations.
Our short positions set last night are still in the red,
but that's okay; there are ups and downs in trading.
Today's market will surely have a correction.
From the technical analysis of the 1-hour cycle,
current candles have formed three consecutive bearish lines,
with prices continuously moving down towards the middle band of the Bollinger Bands,
indicating that bearish momentum is dominant.
The KDJ indicator has formed a death cross with its three lines and continues to diverge downwards,
further confirming the short-term downward trend;
overall, the price shows a clear pattern of rising then falling,
establishing a short-term bearish trend.
Short positions can be set between 109,500 and 110,000, with targets looking at the 108,500-107,500 area.
