On Wednesday morning, Bitcoin made a strong rebound in the evening, reaching a high of 96,200. However, the market did not sustain this momentum and entered a period of contraction and consolidation. Overall, there was no significant upward effect, and it failed to hold above 95,000. By midnight, there was no need to look for any major one-sided breakthroughs; the pattern does not look particularly good. Although buying pressure is not as strong as before, it seems to be washing out the market.
From a short-term perspective, yesterday's 4-hour chart went through a complete detour along the upper and lower bands. While there was an attempt to break through the upper band area, it did not hold. The support below at the lower band is relatively solid, and the range is overall oscillating widely between 92,000 and 96,000. In this phase, after defining the principle of not breaking means not establishing, operations become simpler; we first observe the range's detour actions. The downward force is not strong, and we will follow up later. With the arrival of the New Year, U.S. stocks are closed again, and today's contraction space is expected to be small, around 1,000-2,000. We can switch back and forth and accumulate in short positions.
Morning BTC short-term operation: Rebound in the 94,300-94,800 area, target looking at 93,000-91,500.
The state is quite significant, the winning streak continues, if you can't figure out the long or short, recognize the thought process and walk alongside! Let's create brilliance again!
