The chart shows that the price in the four-hour cycle is oscillating between the middle and lower bands of the Bollinger Bands. After a doji candle, a bullish bar surged but with a significant upper shadow, indicating that selling pressure from above has not diminished; the bullish rebound has repeatedly encountered resistance at the middle band, and the previous downtrend has not been reversed, indicating that the rebound is a regular adjustment.

In the one-hour cycle, the price is approaching the upper band of the Bollinger Bands, with candlesticks showing long upper shadows, indicating that the bulls are testing without breaking through and there is insufficient momentum. Therefore, it is recommended to go short after the rebound at midnight.

Thursday early morning thought:

- Bitcoin: Short at 114500-115000, target around 113000 near #杰克逊霍尔会议