As of now, the support for Bitcoin is in the range of 92000-91000. Even if the market is bearish, one should not blindly enter short positions, as market conditions can change unpredictably. It may appear strong one moment, and the next moment it could plummet. Whether in a bullish or bearish market, there is a lack of sufficient continuity. In this situation, once caught in the trap of chasing highs and cutting losses, one may fall into an irretrievable situation.
Currently, although the pace of decline has slowed, the momentum is still weak, and it is in a weak consolidation pattern. The focus should be on the strength of its rebound; large unilateral movements are unlikely, but range-bound trading will continue. In the short term, continue to treat rebounds with caution!
Operational Thoughts
