Looking back at the market situation from early morning to afternoon, Bitcoin has been fluctuating in a high range. After rising sharply in the early morning, it underwent a pullback correction and fell back to the 108530 level, where the bulls began to recover. It is currently oscillating around 109200. In the early morning, the market also pulled back to the 2555 level before rebounding, and it is now just below the 2600 mark, constantly testing upward. Late at night, Lao Hu also suggested a short position at high levels, with short positions in Bitcoin and Ethereum gaining 1067 points and 41 points respectively.
From a four-hour perspective, after a strong bullish run with six consecutive candles yesterday, the price was lifted to the 109600 level but then faced pressure and retreated. The current price is operating below the upper band of the Bollinger Bands, with significant resistance at the 110,000 mark. On the technical indicators, the MACD bullish momentum is weakening, indicating insufficient short-term upward momentum. On the daily chart, the MACD is still above the zero axis, and the trend has not completely changed. The RSI value is around 60, not in the overbought zone, indicating some short-term pullback pressure. However, the risk of chasing at high positions is considerable, so the suggestion for today is to primarily focus on shorting after a rebound at high levels.
Operation suggestion
Bitcoin: You can short around 109600, targeting 108000.
Aunt: You can short around 2620, targeting 2520.
