The current price is hovering around 111100. On the surface, it seems to be in a high-level oscillation, but in reality, the short selling force is more dominant. There are mainly two supporting logics:
1.Weak upward momentum, with obvious pressure: From the recent trend, the price has repeatedly attempted to break above 112000 but failed to hold, and the range of 111500 - 112000 has a large amount of selling pressure, like "running into the ceiling". Moreover, although there was institutional capital inflow to push up the price before, it has now lost momentum and cannot rise further, indicating that buying power is weakening, and a correction is likely to occur.
2.The overall trend is weak: Both the daily chart and the four-hour chart show that although the price has rebounded, the strength is getting weaker, and the upward pressure is constantly being compressed. It is difficult for there to be a large upward space in the short term, and the possibility of a decline is greater.
Today's Bitcoin Trading Strategy
BTC @sell111500-112000
tp:109500-108500
sl:113500
1.Weak upward momentum, with obvious pressure: From the recent trend, the price has repeatedly attempted to break above 112000 but failed to hold, and the range of 111500 - 112000 has a large amount of selling pressure, like "running into the ceiling". Moreover, although there was institutional capital inflow to push up the price before, it has now lost momentum and cannot rise further, indicating that buying power is weakening, and a correction is likely to occur.
2.The overall trend is weak: Both the daily chart and the four-hour chart show that although the price has rebounded, the strength is getting weaker, and the upward pressure is constantly being compressed. It is difficult for there to be a large upward space in the short term, and the possibility of a decline is greater.
Today's Bitcoin Trading Strategy
BTC @sell111500-112000
tp:109500-108500
sl:113500
💎 Free Trading Signals: t.me/+e1D3W7yOpLMzNTYx
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💎 Free Trading Signals: t.me/+e1D3W7yOpLMzNTYx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.