The morning market on Wednesday continued to carry bearish sentiment. After BTC tested a low near 110,900 and found support, it staged a rebound and has now climbed to a high of 112,800 so far.
Currently, the overall market remains trapped in a range-bound consolidation near the lower end of the interval, with the bulls failing to achieve an effective breakout. On the 4-hour timeframe, the market maintains a volatile downward pattern marked by alternating bullish and bearish candles, featuring high fluctuation frequency. The middle Bollinger Band continues to act as a critical resistance level that caps price movements. As long as the price trades below this middle band, the short-term structure will still lean toward range-bound pullbacks, and the trend can be defined as a small-cycle bearish-leaning consolidation.
For trading strategies, it is recommended to prioritize short positions while treating long positions as a secondary option. Look for opportunities to enter short trades when the price rebounds and encounters resistance, but avoid over-chasing the downward trend. If the price drops to key support levels and stabilizes, then consider reversing to take short-term long positions. Focus on flexibly seizing range-bound trading opportunities and place strong emphasis on risk management.
BTCUSD
sell@112800-113300
tp:111500-110500
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