Bitcoin is currently facing resistance from the middle band of the daily Bollinger Bands during its rebound. The market is leaning towards a bullish sentiment. If the daily candle closes above the middle band, it will likely test the upper band resistance again, around the previously tested high of approximately 120,000. Therefore, even if the intraday short positions have been stopped out, chasing after the price directly below the middle band resistance may not be very wise; it is too aggressive. On the 4-hour level, the price has broken through the upper band resistance, and is currently above the upper band. On the hourly chart, the price is rebounding from the middle band support, with a large bullish candle breaking the upper band resistance. The price has since retraced back below the upper band. After the KDJ and RSI indicators showed overbought conditions at high levels, they are now turning downwards, indicating a short-term need for a pullback.

With intraday short positions already stopped out, it is not advisable to short again at this time. The short-term resistance is at 116,700 and 117,700. If the market pulls back, watch for support levels at 115,700, 115,000, and 114,200. Even if one wants to go long, it is important to monitor the support levels at these positions. #比特币流动性危机