Looking back at the morning's Bitcoin market, after a significant pullback to the low point of 102614 during the early hours, it has rebounded to the current level. In the afternoon, it fell into a range-bound consolidation, which is a normal phenomenon after a rebound. Following a wave of market activity, there will always be a phase of consolidation and energy accumulation, which is also a preparation phase for better breakthroughs next time.
From the four-hour technical indicators, the Bitcoin market has broken below the lower Bollinger Band, and the three Bollinger Bands are continuously widening, indicating that the market will continue to rise. The MACD histogram is negative and diverging downwards, showing that the bears are still the dominant force in the current market. From the hourly level, the three Bollinger Bands are forming a downward running state, indicating that the bearish trend is still very strong, and the rebound trend is gradually being exhausted. In the afternoon layout, we will use high sell and low buy strategies for short positions. Remember to set a stop loss above the rebound high point and control position to prevent risks.
Short near 104500 for Bitcoin Target 102000
