Early Monday Morning Analysis
From the current market trend observation, the bearish forces still dominate. The price has been fluctuating within the range of 83000-86000, failing to effectively break through the resistance level of 86000 and also not reaching the support level of 83000.
From the four-hour candlestick chart, the price has repeatedly encountered resistance and retreated near 85500, with the candlestick forming a significantly long upper shadow, indicating insufficient upward momentum from the bulls. Based on the current market performance, if there is a rebound and upward trend in the future, it may be worth considering positioning short to seize trading opportunities under the bearish trend.
Trading Suggestions
Short near 84500-85000 targeting 83500-82000
