$BTC Sunday Morning Analysis of Bitcoin

Yesterday, the market showed a downward pressure trend, with Bitcoin experiencing a continuous decline after reaching 115656 points, dropping to a low of 111910 during the early hours; the altcoin also moved downwards, sliding to the low point area of 3366. We firmly executed a bearish strategy last night, entering a short position at 3509 and securing a 61-point gain; for the altcoin, we laid out a short position at 3469 and took profits at 3379, successfully capturing over 50 points in profit. A precise strategic decision is often the key to unlocking a continuous profit path.

From the four-hour chart perspective, Bitcoin is operating within a stepped downward channel, with each wave creating lower lows; the high point of 115085 yesterday serves as the second high point, continuing to decline. With six consecutive daily candles showing a volume increase, the price has broken below the Bollinger lower band, and following the daily closing lower, there is a further potential for short-term decline; regarding the altcoin, the price comparison is under pressure at the Bollinger lower band, turning to a downtrend, which aligns with expectations. Combined with the weak downward trend of consecutive hourly candles followed by a rebound correction, the moving average indicators are gradually beginning to turn. The decline comes first, followed by consolidation, with weak rebounds not exceeding two consecutive positive candles; in the short term, we will focus on rebound shorting.

Sunday Morning Strategy: Bitcoin 113000-113500 short, target around 111500. Altcoin 3430-3460 short, target around 3350.