Tuesday morning thoughts, Rebound stops, initially short during the day

The overnight big pie once again reached a high, stopping its upward movement around 1143. Yesterday's continuous rise brought a certain warmth to the market, but such an upward trend, although seemingly strong, reveals elements of a trap for the bulls.

From all levels, the current rebound does not constitute a reversal signal; it is more of a corrective action after a decline. Although the short-term trend is strengthening, the pressure above should not be underestimated. It would be unwise for bulls to chase after more positions with increased volume. Focus on the resistance at 1150 during the day.

The morning Bitcoin reference is around 1145, short near 1150, looking at the 1130 range. If it breaks down, look to continue downwards; if it doesn't break, switch to a short-term long position.