1.8 Wednesday Early Morning Thoughts

In the current market, the intraday decline has nearly wiped out yesterday's gains, and the K-line presents a 'door painting' pattern. However, last week showed a continuous increase in daily lines for a week, and a one-sided trend will not continue indefinitely. This pullback does not signify a trend reversal; even if there is a sharp decline today, it is merely a normal corrective adjustment during the upward phase, aimed at digesting profit-taking and balancing long and short positions to build momentum for subsequent movements.

In the current four-hour level trend, the price has broken through the middle track of the Bollinger Bands with consecutive large bearish candles. Current support is mainly concentrated around the 96500 level. Therefore, in the short term, this position can be viewed as a key point for stopping the decline during the pullback. If the hourly line can retest around 96500, it is recommended to continue buying, with targets looking towards the 99000 to 100000 range. #加密市场反弹 #比特币走势观察 #BTC☀