Today’s Bitcoin Trend Analysis

Bitcoin is currently priced at 108,100. BTC is fluctuating between key support levels at 102,000 and resistance at 112,753, lacking a clear short-term trend direction. Technically, the moving averages are entangled, weakening momentum. A bearish engulfing candlestick pattern is forming, suggesting the market may be facing some downward pressure. Selling pressure remains high at the daily highs, but the overall market remains in a period of volatile correction. The 2-hour candlestick chart shows several consecutive small bearish candlesticks accompanied by increased volume, suggesting some short-term selling pressure. The 2-hour MACD is showing bearish momentum, with a weak daily trend. The 2-hour EMA is showing significant short-term pressure, and the long-term daily trend is bearish. The overall trend indicates that BTC is encountering strong resistance after its surge, so shorting is the primary strategy, while buying on dips is recommended.


Short-term trading strategy reference:
Long entry at 106,000
Short entry at 110,000