Looking at BTC in the early morning, let me briefly explain the idea.

The 4-hour MACD bars, which were previously positive, have now turned negative and are getting shorter, indicating that the momentum of the bulls is starting to lag, but it hasn't reached the death cross stage yet. In the short term, we can expect some fluctuations.

Looking at the RSI, the 14-period is currently fluctuating between 37 and 46, which is not considered oversold (oversold is below 30), so there is actually still room to move downwards. Additionally, the KDJ previously formed a death cross, making the feeling of a pullback even more pronounced.

On the moving average side, the price has been pressed down by the EMA26, around $118,200. If it doesn't break through this level, the overall structure is still leaning bearish.

Therefore, if trading in the early morning, the main focus should still be on shorting. When the price reaches the range of $119,000 to $119,600, enter a short position decisively. The initial target is to look at $118,000 to $117,000, and if it breaks below, we can continue to look down to $115,000. #BTC走势分析