September 3rd, Early Morning BTC Analysis
From the four-hour chart, although the price has rebounded after a previous decline, the upper MA144 and MA169 moving averages create a strong resistance area, and the rebound momentum shows a gradual weakening trend. Although the MACD indicator has released a short-term bullish signal, it has not changed the overall bearish technical pattern.
Trading Suggestions
Consider placing short positions around 111000 and 111500, targeting 109800, with a breakdown looking towards 107500
