1.2 Morning Bitcoin Market Analysis and Trading Suggestions

Yesterday, the overall intraday trend of Bitcoin maintained a wide range of fluctuations, with both bulls and bears pulling back and forth over a thousand points. After a low pullback near the 92800 line, a rebound occurred, and by early morning the bulls exerted strength, pushing the price up to a maximum rebound near the 95000 line. Currently, it is operating around 94500. The bulls' subsequent supply is insufficient, and the market has not stabilized for further upward movement. Compared to yesterday's trend, the fluctuation range has slightly compressed. If the price cannot make a strong rebound and break through the resistance near 96000 from yesterday, the fluctuating market is expected to continue for a while.

From a short-term structural perspective on the hourly chart, the market is under pressure and has pulled back. Currently, the price is continuously fluctuating back and forth within the range, entering a fluctuating rhythm. The current price is around 94500, and in the short term, it is expected that the price will further test downward. It is still recommended to go short on highs and long on lows. If the price breaks down further, there is a risk of the market testing down to the 92000 line.

Morning Trading Suggestions

Short Bitcoin near 95200-95500 Targeting 92000