Despite a minor technical Rebound in the early morning, the overall market momentum remains weak. This Rebound has just touched our pre-set key resistance area, providing us with an ideal opportunity to short at a high.

From a technical perspective, after the price rebounds to the lower edge of the previous dense trading area or a certain short-term downward trend line resistance, the upward momentum has significantly weakened, failing to form an effective upward breakout. This confirms the validity of the resistance area, while also indicating that the current market bullish sentiment is insufficient, with each rebound becoming a new opportunity for bears to enter.

Currently, the price has fallen from the rebound high to around 110,500. This is at a critical technical point: if the price breaks below the recent important psychological level and initial support at 110,000, it may further open up downside potential, with the next target range looking towards 108,500 - 107,000.
#巨鲸加仓2.5亿美元BTC $BTC
Bitcoin strategy: Short around 110800, target 109800
Ethereum Strategy: Short near 3995, target 3920