$BTC
The price of the coin has peaked near 110,000 on the way up,
following yesterday's positive news from the non-farm payrolls and the low opening of the U.S. stock market,
this one-sided surge in coin prices has exceeded our expectations.
We originally intended to place short orders last night, but we canceled them.
However, it doesn't matter; in trading, there are bound to be ups and downs.
Today's market will definitely see a correction.
From the technical analysis of the 1-hour cycle,
currently, the K-line has closed three consecutive bearish candles,
with prices continuously declining and approaching the middle line of the Bollinger Bands,
indicating that bearish momentum is dominating.
The KDJ indicator's three lines formed a death cross and are continuing to diverge downward,
further confirming the short-term downtrend;
overall, prices are showing a clear pattern of rising and then falling back,
establishing a short-term bearish trend.
Short positions can be established between 109,500 and 110,000 for Bitcoin, with targets looking at the 108,500-107,500 area
