Xu Xu Baby Says Coin

The fluctuations of Bitcoin have indeed been intense lately. It previously plummeted like a dive, reaching a low of 111850 yesterday, and many people must be feeling the pain of their losses. Currently, the market seems to be slowly recovering a bit, but it still hasn't broken past the resistance of 115000. After several days of rebound, the bullish momentum seems to have weakened, clearly showing signs of losing steam.

On the daily chart, after stabilizing at the phase low of 111850, the price has slowly climbed up. The previous pullback looks like it's coming to an end, and the short-term low has stabilized after a few days of fluctuation. However, this doesn't mean the bullish pressure has diminished; rather, it seems like this short-term rebound has set the groundwork for the bears' subsequent actions.

Looking at the 4-hour chart, the price previously broke through the upper Bollinger Band but is now forming a rebound support near the middle band. However, it's uncertain whether this support can hold; it feels like the downward space could open up at any moment. The MACD has formed a golden cross and is moving upwards, but the energy bars appear to be shrinking, which actually leaves room for the bears to push down in the short term.

The hourly chart is even more evident; the critical resistance level of 115000 has not been surpassed at all, and the MACD is about to form a death cross. The foundation of this rebound is inherently unstable, and it seems like it will need to step down a bit to solidify. Overall, the short-term trend is likely to push up a bit first and then continue downward.

In terms of operations, one can look to set up short positions in the range of 115400 to 115800, with a stop-loss set at 116500, aiming initially for around 113500.