Tuesday Morning Insights: The back-and-forth wash trading technique is too frequent, but the overall direction remains bearish!

Overnight, Bitcoin surged to around 95,000 and faced resistance before retreating. Currently, the market has once again pulled back to around 92,000 and is fluctuating. The rebounds are quick, and the drops are also significant; the market is experiencing sharp rises and falls. At this time, it requires determination and bravery, but Kun has never lacked these qualities. Two horizontal lines and one vertical line mean action; today’s theme remains bearish!

The rise in Bitcoin is too rapid, but it has also reached its peak because the higher it climbs, the harder it falls. The candlestick has deviated too far from the 50-day moving average; it always needs to return to its origin, which is the 50-day moving average. This is a hard truth, so the market has not reversed; instead, the back-and-forth wash trading technique continues. Today’s theme still maintains a bearish outlook!

In the early morning operations for Bitcoin, Lin Kun personally suggests shorting the price on a rebound to 93,850-94,350, with a target looking down to around 91,000-90,500!