Trader Lao Zheng's Wednesday Morning Thoughts Share
Bitcoin is fluctuating weakly, and the current rebound lacks bullish volume, only a technical adjustment due to overselling, not a trend reversal, so do not blindly chase longs.
The daily candlestick shows weak consolidation, with a narrowing range of fluctuations; pay attention to the support at the 110,000 mark, and if it is lost, the price may drop to 109,000.
On the 4-hour chart, the price is approaching the resistance of the Bollinger Bands' middle track but has not effectively broken through. If the rebound momentum is insufficient and the bulls weaken, the intraday gains may be given back, and bullish momentum is indeed decreasing.
BTC Strategy: Short at 112,000 - 112,500, target 110,000
ETH Strategy: Short at 4,630 - 4,660, target 4,550
