BTC midday analysis: After yesterday’s sharp rise, the market has digested it. Is there intra-district fluctuations today or is a big market brewing?
In early trading today, I opened a short position at BTC1040190 and set a stop loss at 104358. In less than 10 minutes, the price hit the stop loss position, causing the short position to be closed. When observing the market, the BTC price has been fluctuating slightly around 104,300 points since then, failing to show a significant trend continuation. This made me decide not to operate BTC anymore and focus on ETH instead.
Regarding the recent trend of BTC, it experienced a rapid rise of about 4,000 points yesterday. In the short term, the market is obviously still digesting this part of the increase. Although there is no obvious downward or upward signal in the current market, considering yesterday's large fluctuations, it may remain within a small range today and is not worth frequent operations. Therefore, my personal judgment is that the overall market trend today is relatively flat and the risks are relatively high, so it is suitable to adopt a wait-and-see strategy.
To sum up, it is recommended that investors avoid aggressive operations on BTC today, remain cautious, and wait and see further market trends. At the same time, the fluctuations of ETH may provide more stable opportunities in comparison, but due to personal strategic reasons, I also chose to give up further operations today.
If there are no sudden market changes, BTC is expected to fluctuate within a small range today, and the operating space is limited, so please operate with caution.