On the daily chart, after a period of wide fluctuations, Bitcoin is now experiencing a narrowing range. After a sharp drop on the 25th, it rebounded for two consecutive days but failed to break the previous high. It is currently in a correction phase.
The hourly chart is clearer: The candlestick pattern shows a rise followed by a drop, with significant selling pressure around the 112600 level. The bullish momentum is continuously weakening in the short term, and the moving averages have turned downward, forming a death cross, indicating a clear downtrend signal.
Intraday strategy: Mainly short on rebounds.
Bitcoin: Short in the 1124-1128 range, with a target of 110500-109500.
Second Bitcoin: Short near 4620, with a target of 4350-4200.
