The intraday market is approaching its close again, with the coin price consolidating at a high level near 119,300 in the morning, reaching a maximum of around 119,800. Subsequently, the coin price began a sustained pullback, currently trading around 118,000, and the retracement is still ongoing. The rebound short order strategy and trading strategy have been repeatedly reminded throughout the day. Our intraday live trading has also achieved a good space again, with the BTC short order accumulating a space of 3028 points. It can be said that it is another fruitful day, and the Zhiyu team has also taken a steady step forward on the crypto world road of doubling the position size.

From the daily chart, the price has formed a bearish candlestick that quickly engulfs all the gains from yesterday's rally. The overall market continues to exhibit the previous range-bound behavior. From the perspective of the daily level, the overall trend suggests that the range-bound volatility will continue further. Looking at the four-hour chart, after the coin price surged with consecutive bullish candles to the upper band, it then experienced five consecutive bearish candles quickly retracting to below the middle band. However, the market has not effectively stabilized below the middle band, and the coin price is still running near the upper side of the middle band. According to the four-hour technical indicators, the MACD energy bars continue to weaken, and the fast and slow lines are gradually converging, currently facing a death cross situation. Therefore, there is still some space for a pullback to extend in the future. Our short-term bearish outlook remains unchanged, and we will continue to respond with a rebound high short strategy.
Short the 大饼 around 118500, watch around 116500; short the 二饼 in the range of 3820-3840, watch around 3720.
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