$BTC Sunday Morning Analysis of Bitcoin

Yesterday, the market showed a downward pressure trend, with Bitcoin experiencing a continuous decline after reaching the 115656 point; in the early morning, it dipped to a low of 111910. The altcoin also moved down, sliding to the low area around 3366. Last night, we firmly executed a bearish strategy, entering a short position at 3509 and capturing a 61-point move; for the altcoin, we laid out a short position at 3469, taking profit at 3379, successfully securing over 50 points of profit. A precise strategic decision is often the key to unlocking a continuous profit path.

From the four-hour chart, Bitcoin is operating in a descending channel, with each wave lower than the last. The high point of 115085 yesterday served as the second-highest point in the staircase, continuing to decline. With the daily six consecutive downward candles increasing in volume, the price has broken below the lower Bollinger Band, and following the daily close lower, there is a short-term tendency for further decline. Regarding the altcoin, the price pressure at the lower Bollinger Band has shifted to a downward trend, aligning with expectations. Coupled with the weak downward movement followed by a rebound correction in the hourly timeframe, the moving average indicators are slowly starting to turn. A decline comes first, followed by consolidation, with weak rebounds not exceeding two upward candles. In the short term, we still focus on the rebound for profit-taking.

Sunday Morning Strategy: Bitcoin 113000-113500 range for trading, targeting around 111500. Altcoin 3430-3460 range for trading, targeting around 3350.