Bitcoin failed to sustain a breakthrough last night and fell back below $108,000. Many analysts and traders on the Followin Trading Strategy Square began to turn cautious, believing that the market may face short-term correction pressure. What do they think?
@CycleStudies (Million Eric)
Bitcoin has triggered an overbought signal on the daily chart. It is recommended to take profit on some of the spot first. There is no "foolproof"short opportunity yet, so continue to wait for a clearer price structure.
Source: Followin
@bqjushen（Sniper Trader）
$BTC is currently in a daily flag formation. If it fails to break through $110,000 as soon as possible, there is a risk of a short-term pullback. It is better not to participate in this kind of structure, and it is recommended to wait and see.
Source: Followin
@0xTaiBai (Tai Bai)
The price difference between Bitcoin and US stocks continues to narrow. Similar situations have occurred at high levels in history, and the probability of a correction is high. The current price is very poor in terms of cost performance and is not suitable for chasing high prices.
Source: Followin
@CryptosLaowai (Migo)
Focus on $BTC 4-hour EMA20 support (107450). If it continues to hold, it may test the liquidity above $110K; once it falls below, it will move towards a deep correction. Long here is like "licking blood on the knife edge".
Source: Followin
What do you think?
