$BTC BTC mentioned yesterday that the resistance level in the 106100-106700 area was blocked. The previous central low point was just 15 points short of reaching it, so we temporarily view this as the end of the 4-hour rebound.

Because 106482 previously formed a central point on the 30M chart, this central point disrupted the earlier 4-hour central point, which means we need to continue with the daily chart, either with a 4-hour consolidation downward or a 4-hour downtrend.

At the current position, the moving average system is still not suitable for short positions, the 30M has not turned bearish, and the 4-hour is also building a bullish second position. The structure and moving average system are inconsistent here, so short positions can also be avoided. Based on the structure, if entering a short position, the stop loss should be set at 106500. If the 30M moving average turns bearish later, we can add to the position, accompanied by a trailing stop loss.