Market Analysis for Tuesday Morning

Every morning, I dive into market research, continuously enhancing my self-awareness, hoping that all traders can move steadily in the market.

Last night, the price of Bitcoin showed an upward trend, almost reaching the 109,000 point mark. The short positions established earlier faced risks at one point, but ultimately the price fell back to levels close to the opening position.

From the current trend, the pullback has already begun to show. Analyzing the 1-hour candlestick chart of Bitcoin, it can be seen that the price has fallen from the upper band of the Bollinger Bands to below the middle band, presenting a bearish signal on the technical front. The overall downward trend is quite evident.

Market focus is now shifting to whether the key support level of 106,000 points can be effectively broken, while Ethereum's downward trend has become more resolute, further confirming this judgment.

Today's trading strategy remains focused on short selling at high levels. The short-term goal is to first observe whether the support at 106,000 points is broken, and then pay attention to the 104,000-point level. It is expected that the market will experience a significant pullback in the near future, with the key factor being whether it can fall below the 100,000-point area.

Currently, it is important to pay attention to the trends of Bitcoin, Ethereum, and Ripple, as these mainstream cryptocurrencies often lead the overall market direction.