The upward path is short and fleeting! Yesterday, the Bitcoin market overall followed an upward trend, but in terms of momentum, it was very weak. After running for a day, it only reached around 98,600, hitting the previous high before being pressured to pull back. Although a V-shaped reversal formed, there were no signs of bullish continuation. This pattern is still in a tug-of-war around the range. The short positions we set up yesterday were also promptly adjusted after being arranged, and we are still holding them. In this rhythm, do not panic; just wait for the pullback. If it does not break the upper level, a deeper pullback will occur. Short it!

From an overall structural perspective, the current Bitcoin market is in a pullback phase after being pressured at the upper band of the Bollinger Bands. The Bollinger Bands indicator clearly shows that the upper band constitutes a significant resistance to the price, and this resistance level is very clear, providing a key reference for the market direction. Previously, we discussed that the market was in a range-bound state, with the high at 98,500 and the low at 94,000. However, with the previous price breaking down, the low has now moved down to 93,000. In the current market environment, without strong capital inflow, major positive news, or other significant momentum factors, this trend structure will not easily change. The bearish force currently has a certain advantage, and for the bulls to reverse the situation, they need to gather enough strength to break through the current resistance and regain market dominance.

Bitcoin is trading around 98,500-99,000 short, looking at 95,000.

Ethereum is trading around 2,745-2,750 short, looking at 2550$BTC $ETH $XRP #币安HODLer空投KAITO #参与投票-PI该上线币安吗？ #BNBChainMeme热潮 .