Friday Evening Thoughts

From the current market perspective, the four-hour chart of Bitcoin shows that the price has repeatedly attempted to break through the upper resistance level without success. The previous bullish trend has been completely shattered by the opportunistic entry of short positions. The price is encountering strong resistance at the upper Bollinger Band, and the bullish momentum is unable to continue effectively. The short-term market pattern dominated by bulls is likely difficult to sustain. Looking at the one-hour chart, the price has not yet reached the upper Bollinger Band but is showing obvious signs of pressure. The candlestick pattern repeatedly tests the upward momentum, but each rebound is followed by a downward trend, which also confirms the heavy selling pressure above and the continuous weakening of upward momentum.

Short around 89500-88600, looking down to 84000-81000

Short around 3000-2980, looking down to 2800-2750