Crypto world Hongjie 10.16: BTC high position again precisely laid out, 4H death cross opening 110,000 hard to maintain! Today's Bitcoin (BTC) latest market analysis and trading suggestions!

The current price of Bitcoin is around 111100. After a prolonged period of fluctuation yesterday, it was still blocked as predicted by Hongjie at the 4H midline and EMA15 resistance, and it again declined to the 110000 mark. The high short position above 113500 was accurately captured again. Fans who have not closed their positions should not be anxious, as the downward space has not yet played out. Currently, the 4H channel trend is continuing to evolve downwards, and the lower Bollinger Bands are opening downwards. It is feared that the 110000 mark may be hard to maintain. In the MACD, the red bars are weakly expanding, and DIF and DEA are also attempting to form a death cross. KDJ and RSI have no strength in their upward turns and have continued to be in the oversold zone, with the risk of a short-term correction intensifying!

If the 110,000 level and the daily EMA160 are lost, breaking the low point of several days of consolidation will lead to the EMA200 (107876) and the lower boundary zone position. Currently, the daily death cross is still ongoing, the DIF line has entered a negative value state below the 0 axis without convergence, and both KDJ and RSI are showing high-level downward divergence approaching oversold. Hongjie suggests that chasing long positions in the short term is not advisable, and the strategy remains focused on high short positions during pullbacks. The upper pressure can be observed at the 4H midline and the daily EMA120 position.

Selling point: Light short at ≥112300, add above 113500, stop loss above 114000; take profit at 111200-110300; if it breaks below 110000-109500, you can continue to hold until below 107900!

Buy point: ≤107900 light long, stop loss below 106600; take profit at 109500-110500-111500; if it breaks above 112000-112500, you can continue to hold!

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