Good morning on Wednesday, a new day!

It's the same rhythm again; after Bitcoin's price retreated to around 94,000 at midnight, it stopped and rebounded to around 97,000. The bears ultimately ceased to continue pushing downwards. On the daily chart, it is highly likely that a doji star candlestick with a long lower shadow will form, and the market will fall into a state of anxiety.

In the short term, after the price retraced and stopped, the candlestick has been bullish, basically recovering most of last night's decline. However, the strength is still lacking, with pressure returning to around 98,000, where Bitcoin attempted to rebound yesterday but failed. The price subsequently fell, but the midnight pullback has not reached the expected depth. Previous brief rebounds have not formed effective bottom support, indicating that there is still some downward pressure in the market. It is expected that the market will continue to give downward movements and may approach the previous support level again. During this stage, the market may oscillate around this support level.

The morning strategy for Wednesday: Aggressive traders can go long at the current price of 96,800, while conservative traders should look to short near the rebound around 98,000. In the early session, we will first look for adjustments, paying attention to the support level around 95,000.