BTC previous point retracement, high position short-term shorts can exit

The price of Bitcoin is fluctuating back and forth; is this the final surge of the bulls before a waterfall drop? Or is it a buildup at the bottom preparing for a breakout?

Everyone knows that this week the price has been bouncing up and down widely, generally hovering around the upper and lower Bollinger Bands on the four-hour chart. First, there was a wave of decline, and after breaking below the lower band, it did not stabilize, continuing downward. Then it formed a lower shadow and, after a day's time shift, the price rose again above 100,000, with a maximum rebound near 101,800. This position is now the upper peak, and it is not recommended to chase the rise unless it breaks.

Since the upper level has reached our peak, it is necessary to short appropriately. Jiang Wei's strategy is to short at any point above 101,000. Looking at the medium to long term, the 96,000 level is the target, with a defense at the 102,000 position.