The bulls did not encounter much resistance, and the overall trend is occupied by the bears. In the early morning, the market experienced a continuation of the downward trend, with Bitcoin reaching a low of 94111.

Subsequently, it was reclaimed by the bulls to 97000, indicating that this key level is still somewhat strong. However, Bitcoin has repeatedly been pushed down, only to be forcefully reclaimed by the bulls. Since the market has fallen from its high,

the structural trend clearly shows that the duration of the downward movement is much longer than that of the upward movement, giving it an advantage in terms of time. Additionally, the strength of the downward movement is greater than that of the previous upward movement. Therefore, under a weak market condition, the downward space should not be underestimated.

The structure has not changed, and the trend remains weak. Before an effective trend reversal occurs, the trend structure direction remains unchanged. On the hourly level, there is also a long shadow below, forming a hammer pattern at the low. So in the morning, we can look for the strength of a rebound.

In terms of operations, it is recommended to buy Bitcoin around 96200-96800, with a stop loss at 95500, and look for a six-digit target above.