Thursday's Morning Insights on Bitcoin are as follows!

After overnight trading, Bitcoin showed signs of a significant pullback, with the price dipping to around 92500. The current price is fluctuating around 94000. On the daily chart, the Bollinger Bands continue to narrow, and the price briefly tested the lower band before ultimately breaking below it!

Currently, the market has completely fallen below the lower band, and the price has significantly retreated. However, there is no clear continuation of this trend, and the rebound strength is not strong. Each time the price rises, it tends to pull back somewhat. During the day, attention should be paid to whether there can be an effective breakthrough at the resistance near the middle band. Until a breakthrough occurs, it is not advisable to enter short positions!

Looking at the 4-hour chart, the Bollinger Bands are narrowing, and the price is maintaining a downward trend. The strength is still declining, and the bullish momentum is gradually weakening. Overall, although the price has rebounded somewhat, the overall trend has not been reversed, so I still expect a pullback. The strategy for the future is to maintain a bearish outlook!

For morning operations on Bitcoin, I personally suggest shorting when the price rebounds to 95000-95500, with a target looking down at the 91000-90500 range!