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Based on the 4-hour timeframe, the RSI has been lingering below 50, showing weakness without any decent rebound. The MACD is even more straightforward—after the death cross, the green bars are getting longer, indicating that the bearish momentum is still strong. The short-term downtrend is quite clear.
The key level to watch now is 102,000. If this support fails, the next target is the round number at 100,000. If 100,000 also can't hold, be prepared for the possibility that the decline could continue for some time.
**Trading Strategy:**
Wait for a rebound to the 103,800–104,300 range before considering short positions. Place stop-loss above 104,800 for safety. The first target is 102,000; if broken, keep an eye on 100,000, with a potential move down to around 99,000 in extreme cases.
**Trade Suggestions:**
A rebound to the 3,450–3,480 zone could also be an opportunity to short, with a stop-loss above 3,520. The primary target is 3,250; if broken, look towards 3,100. If 3,100 also gives way, then monitor whether the 3,000 level can hold.
Market sentiment remains weak, so be sure to manage risk carefully.