From the technical pattern of the four-hour chart, the dominance of short positions remains evident after BTC surged and then pulled back. The price is pressured by the middle band of the Bollinger Bands during the rebound, and a long bearish line appears accompanied by higher trade volumes, indicating insufficient strength for a bullish counterattack.



Currently, it is important to focus on the breakthrough situation of the middle band of the Bollinger Bands. If the price continues to be suppressed by the middle band, it is highly likely to test the support level of 117000 downwards. Once this support level is broken, it may further open up downward space. In terms of operational strategy, it is recommended to mainly layout short positions on rallies.

Operation Suggestions:

BTC: Short positions around 118800-119300, targeting around 1166.
Aunt: Short positions around 3870-3900, targeting approximately 3740.
BTC0.47%
ETH1.9%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)