Bitcoin is slowly rising and quickly falling on the 4-hour chart. The rise is characterized by a series of small bullish candles, while the decline is marked by a large bearish candle followed by a small bullish candle for correction before another large bearish drop. In one day of decline, all the upward space has been lost. At the same time, the 4-hour chart has broken the middle track and is weakening, but it is currently at the lower track of the large range. Combining with the previous price movements, the price of the coin is likely to experience a rebound to touch the middle or upper track of the range. Today's operation relies on the broken low point of 93,000 as support to look for bullish opportunities. The volatility base is large, and the short-term process is convoluted and repetitive, which further tests the precision of entry points. There is a tug-of-war in the pullback, and the moving average indicators on the hourly chart are in a chaotic divergence, requiring more time for a back-and-forth struggle. Overall, we are still in a phase of transition and adjustment. For intraday operations, we maintain a strategy of buying on dips.
In the afternoon, Bitcoin can be bought at 93,500-93,000, with a target of around 96,000.
