BTC Intraday Analysis

Yesterday mentioned not to chase highs or sell lows, with a mid-term perspective seeing a wide range of fluctuations. We completed a low buy from 94,000, gaining over 4,000 points.

It was also mentioned that there are multiple resistances at high levels between 98,000-100,000, and currently facing resistance and retreating. The current range has a large number of trapped positions, the area with the densest chips, and is near the previous high. There is an expectation of an M-top pattern, and the SAR indicator along with the main funds indicate the risk of short-term weakness.

So the operation is as follows: we lay out short positions near 98,150, and if it stabilizes at the 2-hour level above 99,800, stop loss is set accordingly, with a target below 96,000.