Bitcoin is currently oscillating narrowly below the middle band of the Bollinger Bands.
From a technical perspective, the hourly Bollinger Bands continue to narrow, and the volatility space is significantly compressed, with both bulls and bears locked in a stalemate. Although there was a slight upward movement in the evening, it failed to continue and quickly fell back, indicating insufficient bullish momentum, making it difficult to effectively stabilize. Overall, it is still in a downward channel, and the trend has not undergone a substantial change. It is recommended to continue maintaining a short-selling approach during rebounds.
BTC: Short around 111000, targeting 108500
