Thursday Morning Thoughts

The Bitcoin market shows no breakthrough in long and short positions, operating within the range of 110,000 - 113,000, with multiple attempts to rise resulting in a short-term downward bias.

The 4-hour Bollinger Bands are contracting downwards, with a bearish candle pulling back after breaking the middle band; there is fierce competition between bulls and bears, and the structure is weak, suggesting a bearish outlook for early morning trades.

Bitcoin Strategy: Short around 112,000, looking at 111,000 - 110,200; if downward momentum weakens, consider reversing to long.