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8.4 Monday morning thoughts, Rebound is not reversal, high short in the morning
Time flies, the weekend is over, and in the past two days, the market has shown a V-shaped trend overall. On Saturday, it continued to decline weakly, while on Sunday it hit the bottom and rebounded, currently fluctuating above 114000.
In the 4-hour chart, the Bollinger Bands are showing a downward contraction. The continuous small bullish candles on the short-term have caused the price to break through the middle band, but the force is limited and no reversal signals are evident in the short term. In the hourly chart, the candlestick patterns alternate between bullish and bearish, currently facing resistance from the upper band. Although it seems to be strongly trending upward in the short term, there are many inducements to go long. In the future, if the price does not break above 115000, it will be advisable to short around this area.
Morning suggestion, Bitcoin 114500, short near 115000, look at 113000-112000 #PI# #BTC# #ETH#