The overnight Bitcoin market shows a noticeable volatility pattern. The price first dropped to a low point around 107460 and then stopped, followed by a slight rebound that brought the price to a high point around 108260. Until early this morning, the price continued to fluctuate and consolidate within this range. $BTC
From the current market perspective, the bulls clearly showed weakness yesterday, with a long upper shadow and signs of fatigue. In the MACD indicator, after the fast and slow lines formed a death cross above the zero axis, they continued to diverge downwards. Both bulls and bears are locked in a tug-of-war, and the market has clearly entered a stage of adjustment that exchanges time for space.
Looking at the one-hour level, the tug-of-war pattern between bulls and bears is particularly evident, with the price fluctuating around the bottom. There are signs of further breakdown under this weak structure, and in the next steps, we can continue to short around the high position!