$BTC Friday Early Morning Thoughts
On Thursday, the Bitcoin market experienced an initial rise followed by a decline. In the early morning, the market warmed up, with the price rebounding from a low point and reaching around 114800 in the morning, where it encountered resistance and fell back. In the afternoon, it oscillated downward, and in the evening, it accelerated its decline, stabilizing above 112100, currently steady around 112300. Ethereum mirrored Bitcoin's trend, peaking at 4376 before retreating to 1207, currently trading around 4236.
Overall, Thursday's Bitcoin market showed a trend of rising and then falling. The price began to rise in the early morning, reaching around 114800 before facing resistance and retreating. In the afternoon, the overall market was in a downward oscillation, and in the evening, the price started to drop, hitting a low above 112100 and stabilizing, currently running steady around 112300. Ethereum followed the trend of Bitcoin, with the price peaking at 4376 before retreating to a low of 1207. It is currently trading at 4236. During the day, the teacher placed a real-time layout on Bitcoin with two long positions and one short position, achieving a gain of 3000 points, and 130 points for Ethereum.
From a four-hour perspective, Bitcoin has broken below the middle track and continues to search for lower levels. Both the upper and middle tracks are turning down, while the lower track is flat, indicating that the price is significantly suppressed by the middle track, and the overall downward trend remains unchanged. The DIF and DEA are approaching convergence, and the green energy bars are shrinking, suggesting a weakening of bearish strength, with a potential for a short-term weak rebound. The one-hour level shows that Bitcoin is in a clear downtrend, with strong bearish momentum and technical indicators also leaning towards bearishness. In summary, the early morning thoughts can revolve around short positions.
Short Bitcoin near 112700, with a target of 111500.
Short Ethereum near 4250, with a target of 4180.
