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4.2 Morning Market Analysis
Bitcoin surged to 69,140 before sharply pulling back, and the strong bullish pattern has been completely reversed, with clear bearish signals. The current price has broken below the Bollinger middle band, consolidating weakly below the middle band, with very limited rebound strength. The upper band at 69,000 acts as a strong resistance, making it difficult for the bulls to break through.
The KDJ indicator is in the low weak zone, with the KDJ moving averages diverging downward, indicating that short-term bearish momentum continues to be released. The price has been repeatedly rejected by the middle band during rebounds, forming an overall oscillating downward structure. The resistance zone between 68,400 and 69,000 is dense, limiting the rebound space.
The short-term trend is bearish. If the price breaks below the lower support at 67,800, the downward space will further open. Maintain a high short position strategy, consider shorting on rebounds with resistance, strictly control position sizes, avoid greed and over-leverage, and pay attention to the downward potential after breaking the lower band.
Trading Suggestions
Short positions in the 68,600-69,000 range, targeting around 66,500-67,000.