Today's midday thoughts

The price of Bitcoin has been rising all the way to the highest point near 71400. Yesterday's short position was unfortunately wiped out. Back to the market, the current price is close to the upper track of the Bollinger Band. The market may be in an overbought state. The technical indicator macd shows that the market is still rising overall, but the momentum has weakened. The kdj indicator shows that the market may be overheated and there is a risk of a correction. The rsl indicator is close to the overbought range. The market is strong but may pull back. It seems that shorting at this position is more cost-effective, and a small stop loss band can be used.

Operational suggestions: Short orders can be entered in the price range of 71200-71500. The first target is 69000, and the second target is around 68000. Reduce positions and hold after breaking through. In summary, although the market is rising now, there are multiple signals showing that it may pull back.

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