BTC is currently under pressure above as per yesterday's analysis, pulling back to a low of 111350, and has reached near the middle band of the 4-hour Bollinger Bands. The overall momentum for short positions is strong, and it is highly likely to break below the middle band support and continue to dip. Therefore, one can choose to enter short positions at higher levels.
Trading suggestion: You can short around 112500-113300 above, looking down towards 111800, 110800, 109700, 109150, 108800, 108300. Near the target below, try to reverse based on the support situation.
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BTC is currently under pressure above as per yesterday's analysis, pulling back to a low of 111350, and has reached near the middle band of the 4-hour Bollinger Bands. The overall momentum for short positions is strong, and it is highly likely to break below the middle band support and continue to dip. Therefore, one can choose to enter short positions at higher levels.
Trading suggestion: You can short around 112500-113300 above, looking down towards 111800, 110800, 109700, 109150, 108800, 108300. Near the target below, try to reverse based on the support situation.