After the price of the coin rose sharply since yesterday morning, it has continued to fluctuate and correct around 105000. This morning, the price once again experienced a slight increase, returning to around 106000. Following a round of technical correction, the price has stabilized above 106000 and is currently trying to rise again to around 106500. Our short position entered at 106149 this morning exited at 105408, gaining 741 points. Subsequently, we followed the trend and entered a long position at 105395, which exited at 106017, securing another 622 points. In this continuously adjusting market, we just need to follow the market trend and enter when the opportunity is right.
From a technical perspective, looking at the four-hour cycle, the price shows a slow upward trend with fluctuations, and market sentiment is relatively strong. However, some short-term indicators have entered the overbought zone, so we need to be cautious of potential pullback risks. If a breakthrough occurs above the previous high, it may further open up upward space; if it cannot break through, there may be a sustained period of consolidation and pullback in the short term. On a shorter time frame, the hourly chart shows that the coin price has repeatedly crossed above the upper rail but has not been able to effectively stabilize above, continuously forming long lower shadow lines, indicating that both upward and downward pressures are currently in a stalemate. The ongoing stalemate between bulls and bears has also led to relatively small fluctuations in the price recently, and the short-term trend may continue to fluctuate.
For Bitcoin, short positions can be considered around 106500-107000, with a focus on the 105500 area. For Ethereum, short positions can be considered around 2470-2500, with a focus on the 2400 area.
