Deer Star 8.8 Evening Thought Analysis and Operational Suggestions

According to the one-hour K-line chart, the current price of Bitcoin is below the middle band of the Bollinger Bands, indicating that the short-term price is in a relatively weak area. The opening of the Bollinger Bands is currently in a relatively stable state, without significant expansion or contraction. The distance between the upper and lower bands is moderate, suggesting that there is no trend of significant increase in market volatility for the time being.
Previously, the price had touched around 117485, indicating some bullish strength, but subsequently failed to hold above the upper band and fell back. Combined with the current price being below the middle band, this suggests a short-term weakening of bullish strength, with bearish forces temporarily gaining the upper hand. If the price continues to remain below the middle band and cannot effectively break above it, shorting on rallies may be considered.

Operation Suggestions:
When the price rebounds close to around 116800, a light short position can be set, targeting around 116100. #Gate & WLFI USD1 积分计划 #