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The Bit intraday market slightly plummeted and then consolidated, with bulls and bears in a stalemate. The price fluctuates in the range of several k points, currently around 118000. In the future market, follow the 116000 level; if it fails to stabilize, there may be a second fall.
The short-term hourly chart shows a bearish trend, with strong bearish momentum on the 4-hour MACD, and the price has fallen below all EMA lines. If there is no strong rebound to 118000 during the day, the weak fluctuation will continue, maintaining a strategy of shorting high and going long low.
Short Bit at 118500, target 116000, defend 500 points.