BTC and Bitcoin have recently broken through the historical high, reaching around 123,200. What should we do next!
This round of increase is not driven by market sentiment. With the intrusion of institutions, policy impacts, interest rate cuts, and various factors, this is not a substantial rise. Be cautious of a potential crash!
The 4-hour chart previously showed a continuous bullish candlestick pattern, with strong bullish momentum. However, the KDJ indicator is gradually forming a dead cross at a high level, and the hourly chart has continuously closed with long upper shadows, indicating significant short-term pressure above and a need for technical correction.
It is recommended to short at 122,000-122,500, targeting around 110,000!
