From the 4-hour price chart, Bitcoin faced significant resistance after rising to the upper Bollinger Band, subsequently dropping for four consecutive days and even breaking below the crucial support line in the middle of the Bollinger Band. In the short term, there are signs of price weakening.

Looking at the MACD indicator, the fast and slow lines formed a death cross above the zero axis and have been moving downwards, while the green bars representing bearish strength are also growing longer, indicating that the power of short selling is continuously increasing.

Additionally, during the price decline, trading volume has gradually increased, suggesting that the selling pressure in the market is being released progressively. Although there was a slight rebound when the price dropped to around 107500, the overall trend still favors bears, and the possibility of continued decline or even breaking below support levels should not be underestimated. Therefore, today, it is better to focus on short selling when prices rise.

Morning trading suggestion:

Consider short selling Bitcoin in the range of 108500 to 109000, with a target looking towards 107500 to 106500. #BTC #ETH #pi #PiJS