BTC Intraday Analysis

Yesterday mentioned not to chase up or down, with a medium-term perspective of wide fluctuations, we completed a low buy at 94000, gaining over 4000 points.

Also mentioned the multiple resistances at high levels between 98000-100000, currently facing resistance and retracing. The current range has a large number of trapped positions, the densest area of chips, and is near previous highs. The short-term pattern shows expectations of an M-top, with the SAR indicator and main funds indicating risks of short-term weakness.

So the operation is as follows: we layout short positions near 98150, and a stop loss at 99800 if it stabilizes at the 2-hour level, with a target below 96000.