$BTC Bitcoin 4-hour Bollinger Bands are narrowing, with both the upper and middle bands opening downwards and moving lower. The upper band resistance is around 109700. The MACD bearish momentum continues to decrease, while bullish momentum is starting to increase. The KDJ was about to turn down and nearly formed a death cross but suddenly reversed and is now turning up. On the hourly chart, at 9 PM, a long upper shadow bullish candle broke through the upper band resistance directly. Currently, the price has retreated below the upper band, and the KDJ is turning down, indicating a need for a pullback.

Therefore, the midnight view is that if you are already short from around 108500, just hold on. If you are not short, you can look for opportunities to short between 109500 and 110000, or if you believe it won't drop further, you can go long around 108500 and then short again near 110000, it's all up to your discretion.