Recently, the Bitcoin market has shown significant volatility. The price of Bitcoin continued to rise, reaching around 107800 yesterday before experiencing a pullback. However, it is noteworthy that the space for a retracement is relatively limited, making the situation quite difficult for some investors holding short positions.
From a technical indicator perspective, the current four-hour Bollinger Bands are showing an upward opening, which usually indicates that the price is still in a strong upward trend. However, at the same time, the MACD indicator shows a decrease in bullish momentum, indicating that the upward driving force has weakened; the KDJ three-line convergence also shows that the market's bullish and bearish forces are in a relatively stalemate state near the current price level, collectively resulting in a weak retracement force. Looking at the daily level, the K-line touches the upper Bollinger Band, suggesting that the pressure faced by Bitcoin's price during further upward movement is gradually increasing, and the upward space is gradually narrowing.
In terms of intraday layout, it is recommended to implement a short strategy on rebounds. Specifically,
BTC: Short positions should be established in the range of 107000 - 108000.
Target: Between 105000 - 103800.
Zhisun: 108500
The above suggestions are for reference only!#币安HODLer空投CAT、PENGU #VANA开盘 #圣诞行情预测 #ETH再度冲击4K #比特币战略储备
