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Analysis of ideas in the early morning of October 24.
Although Bitcoin attempted to rise again in the evening, the upward momentum could not be sustained. The price quickly retraced after reaching the previous high resistance level of 112400, and the hourly chart closed with a bearish candlestick, indicating strong resistance above. Currently, the short-term upward space is clearly limited, and it is recommended to adopt a short-term bearish approach for operations.
It is recommended to short directly near the current price of 110800, with a target looking down at 109300-108300. If it breaks through, continue looking down to 107000, with a defense of 500 points!
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