Friday Morning Bitcoin Analysis Summary
Good morning, currently the price is hovering around 104700 after a rebound from a short-term support level, having tested and dropped below the 104000 integer mark last night. From the 15-minute price chart, the price has reached the upper end of the short-term fluctuation range, closely touching the Bollinger Gold line, and even briefly entering an overbought state. Meanwhile, the MACD indicator has exhibited a death cross above the 0 axis, and the KDJ indicator has reached 69, indicating that there will likely be a wave of short positions for a pullback adjustment in the short term. However, from the 4-hour and 8-hour price charts, the price is currently in the lower half or even mid-range of the wide fluctuation area, and various indicators show that the trend is not clear, indicating a tug-of-war between bullish and bearish forces in the market. I suggest that in the short term, one could consider going short around 105000, while maintaining the strategy of pulling back to sell high and buying low as seen yesterday.
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