Bitcoin Afternoon Thoughts, Rebound Continues to Short

After the rise in the early morning, the early market has not shown much volatility, presenting a downward trend with slight rebounds and limited strength. The high short strategy given in the morning has once again proven correct.

Currently, the 4-hour chart shows consecutive bearish candles breaking below the middle support level, while the Bollinger Bands are showing a tightening pattern. The rebound energy in smaller time frames is weakening, and the MACD has formed a death cross after consolidating, indicating potential continuation. The hourly chart shows an overall rise and fall, with signs of continued bearish momentum in the short term. In the afternoon, first observe the retracement situation.

Reference the short position in the 119400-119900 area, looking at 118000-117000.