The pancake staged a deep V reversal overnight, with the price rebounding from a low of $101,340 and breaking through the $104,000 mark, leading to a liquidation of short positions and a surge in market bullish sentiment.
However, there are hidden risks on the technical front: the 1-hour level shows that the upper Bollinger Band is under significant pressure, with prices oscillating narrowly around the middle band, and bullish momentum is weakening, increasing the risk of falling below the middle band; $BTC
The KDJ indicator shows all three lines are overbought, and if the J value turns and forms a death cross, it will trigger a correction; the MACD's DIF line and DEA line have been consistently below the zero axis. Even if the red bars briefly increase, if the volume is insufficient to break above the zero axis, the price may return to a downward channel. The three indicators indicate that Bitcoin's short-term bullish momentum is weak, bears are dominant, and there is a high risk of decline.