Early this morning, I posted that Bitcoin is very likely to rise to 110,000, and then pull back. As a result, it indeed reached that position and started to pull back. Isn't that amazing?

Tonight, let's analyze Bitcoin's trend. Some potential pullback signals have appeared. The RSI has risen to the overbought zone of 70, and the KDJ indicator is also flat at a high level, with J values greater than 90. This indicates that, in the short term, there is a technical correction demand for Bitcoin, and it may need to pull back.

Looking at the trading volume, when Bitcoin rebounded yesterday, the trading volume significantly increased, indicating strong bullish momentum. But now, the volume is starting to shrink, which we must be cautious about as it could be a false breakout. If it is a false breakout, the price is likely to drop significantly.

Additionally, the MACD indicator shows that the fast and slow lines have crossed above the zero axis, which is normally a good sign, but the red momentum bars are shrinking. If Bitcoin's price reaches a new high next, but the MACD indicator does not rise simultaneously, it could lead to a bearish divergence, which is also a bearish signal.

Based on the above analysis, the operational strategy for tonight is mainly to position for short trades. We can short near the price range of 110,000 - 101,500, targeting 108,500 - 107,500. However, it is essential to strictly manage stop-losses and control risks. Investing carries risks, and actions must be cautious! #币圈