Thursday Morning Trading Ideas

Although the short-term bulls have managed to push higher, the continuation is clearly insufficient, so intraday trading is still mainly about selling at higher levels.

Looking back at yesterday’s market, the overall Asian and European sessions maintained a range-bound rhythm. After the US session started, Big Pie (BTC) pulled back to the 73,500 area, stabilized there, and then gradually moved higher. In the early morning hours, it strongly broke through the short-term pressure level, with a peak reaching 75,400. It is currently pulling back and consolidating around 74,600. This upward move has put some pressure on the bears, but overall it is still within a controllable range.

From the four-hour structure, the trend is relatively bullish but not smooth enough. After each push higher, the subsequent pullback shows a lack of momentum. The 76,000 level remains the key line of demarcation. If it cannot be effectively broken through, then even if it stays short-term bullish, it’s still not recommended to rush to go long.

The intraday outlook remains unchanged. Prioritize setting up short positions at high levels, and wait to consider going long at lower levels after a pullback.

For reference, enter shorts in batches around 74,900-75,400. Watch support in the 73,500-72,500 area. $BTC