Thursday afternoon, Bitcoin, trading ideas!
Bitcoin has stabilized and fluctuated excessively over the past two days. Early yesterday morning, it quickly rose to the 106770 level, facing resistance. The overall pattern still shows a wide range of fluctuations. We cannot view it as extremely strong or weak; we should find a range to mainly trade the fluctuations. For today, we will still look for high points to short and low points to go long. There is still upward pressure!
From a technical structure perspective, the daily line has not stabilized, and the closing line has not reversed the bearish effect. The high point at the integer level of 107000 has not continued, and the pressure testing rhythm and sentiment are all contained within. In particular, the 4-hour short-term performance is very evident, oscillating between the upper and lower Bollinger bands. This week, it has been fluctuating. Although it has not broken the fluctuation range pattern-wise, the prolonged sideways time is also unfavorable for going long.
Therefore, regarding the current pattern, the technical structure, supported by the bearish effect, still has a further testing of the lower track in the short term. In terms of operation, it is still mainly short, looking for a continuation to pull back once. Short-term pressure is at 106500, with support at 103500.
Bitcoin evening suggestion: rebound in the 105600-106300 area! Target looking at the 104300-103800 area.
Finally, emphasize, light trading, light positions!
