Friday evening BTC trading strategy analysis

Analysis of the 4-hour BTC chart: Previously, it was in a range-bound oscillation, where the tug of war between bulls and bears seemed deadlocked, but in reality, the bears were gathering strength. Subsequently, there was a significant breakdown of the key support level, leading to the collapse of the bullish defense. Currently, the bearish arrangement is evident, with short-term moving averages exerting downward pressure. Each attempt to rebound back to a high position has failed, and consecutive large bearish candlesticks have been recorded, indicating that the bears are dominating the market in the short term.

The subsequent trend is likely to continue releasing short-selling momentum. The previous consolidation and peak formation have laid the groundwork for a downward movement. Once it breaks below, the bearish trend will strengthen. Without unexpected positive news, it may continue to weaken along the bearish trajectory, making it difficult to effectively rebound in the short term. In the evening, it is advisable to maintain a high short position.

Operation suggestions
Sell in the 116300-117000 range of BTC, target below 114500 #余币宝年化收益破24%# #Gate Launchpad IKA上线# #以太坊交易量飙升# #BTC#