The price of the coin has slightly risen after a minor pullback since early morning, once again challenging the area around 108250. It then provided a small retracement, and the current trend still maintains the previous slow and narrow oscillation upwards. The overall trend has not undergone significant changes, so we decisively exited our short position set at the 108179 level after securing a space of 626 points. When a major market event occurs, it tests our wisdom and courage, while small fluctuations rely on technical precision and disciplined execution.
From a technical perspective, the daily chart continues to show small bullish candles with prices reaching the 108 level high point, which is currently a short-term resistance level. Watch for the previous high of 109, with support near the MA30 moving average at around 1055. The appearance of small bullish candles also indicates that bullish momentum is gradually weakening. Looking at the four-hour chart, alternating small bearish and bullish candles are running, and compared to the previous series of small bullish candles, the upward trend has slowed down, but the overall upward trend remains unchanged. The repeated appearance of small bearish retracements suggests that the stalemate between bulls and bears won't last too long, and the market still looks for the price of the coin to face pressure and pull back after going up.
You can go short above 107000 for Bitcoin, watch around 105500; for Ethereum, you can go short above 2480, watch around 2380.
