The so-called market trend is not simply about going long when prices rise and going short when they fall; the most subjective approach requires observing while moving forward, as there is no definitive conclusion.
Currently, although Bitcoin has broken through the 110,000 mark, it has not stabilized, indicating strong resistance above.
From a technical structure perspective, there is high-level volatility, with no signs of further upward breakthroughs in the short term. If the high does not continue, then the market will have a demand for a pullback and correction.
In the hourly chart, both bulls and bears are operating in a roundabout way, with the high points gradually declining. The bullish momentum is shrinking, and with the mid-support level being broken, there is a hint of further continuation, so we will treat the day with a focus on shorting at high levels.
