Bitcoin Morning Analysis
Currently, the price of Bitcoin has gained short-term support around 112300 and has rebounded, but the overall trend remains in a downward channel. Whether on the 4-hour or 1-hour timeframe, the bearish pattern still dominates. This rebound appears more like a correction within the bearish trend rather than a trend reversal.
The current candlestick is still running below the midline, indicating a bearish trend. Both the DIF and DEA are below the zero axis, clearly indicating a bearish trend. Although the MACD histogram has shortened, showing a slight weakening of bearish momentum, it has not yet formed a significant golden cross signal. The KDJ shows signs of rebound at low levels, but overall it still has not escaped the weak range, and the strength of the rebound is insufficient to reverse the trend.
Therefore, we remain bearish this morning; the current major trend is still dominated by bears, and this rise is part of a bearish rebound correction, providing us with an opportunity to short!
Personal Suggestion
Bitcoin: Enter shorts at 114400-115200, targeting downwards to 112000, and if it breaks, look at 110000 and 108000!
