Before the European session, Bitcoin experienced a wave of decline from 59,600 to 58,500, and then rebounded. At present, it seems to be stopping the decline and moving upward, but technically, the rebound trend has not yet been fully formed. It still needs the hourly line to stand above the middle track of the Bollinger Band at 60,000 to barely be considered a bullish position.

Since yesterday, when Bitcoin fell near 63,000, it has fallen 5,000 points. It stopped falling at 58,000, and if you get on the train midway, you can also eat part of the range. Then the next step is still to look at the pressure level of the 60,000 mark. If it still cannot stand firm in the evening US session, it will continue to drop to 58,000.