$BTC

Midnight Thoughts on Wednesday

Based on the current market situation and looking at the four-hour level, after experiencing three consecutive bullish candles, the upper Bollinger Band is clearly providing resistance, and the bullish momentum cannot support a sustained price breakout. Currently, the price is showing a downward trend, which also indicates that the second round of gains has likely completed. Therefore, the overall trend is likely to revert to bearish control. From the one-hour perspective, after the price peaks, it enters a downward trend. The KDJ and RSI indicators are showing downward turns on all three lines, coupled with the psychological resistance above that has not been broken through for a long time. Thus, for midnight operations, we will take a short position, anticipating a drop after the peak.

Bitcoin can be shorted around 115500-115800, targeting 113500.

Ethereum can be shorted around 3680, targeting 3580.