#Blockchain [Super Topic]#

The night market for Bitcoin has frequently shown signs of indecision, indicating fierce competition to avoid risks. It is advisable to adopt a cautious strategy and enter the market with defensive measures.

The effective rebound of Bitcoin depends on breaking through and stabilizing above the 97,800 point, to fill the one-hour correction gap from midnight. Otherwise, the breakout signal may be false. The four-hour chart shows frequent lower shadows but lacks subsequent support. Although there is activity, momentum is insufficient, especially after 4 a.m. when liquidity is low. This is undoubtedly the result of institutional manipulation or liquidation by major players. Regardless of market fluctuations, one should adhere to principles.

On the daily chart, the price range is between 94,000 and 98,300, with bears in control. The KDJ indicator has turned downward from a high position, and there are no bottom signals in the lower mid-range, suggesting that there is still considerable downside potential. The MACD shows stable emotions, but the price has fallen below the middle track of the Bollinger Bands, increasing buying pressure as prices slowly rebound while showing indecision.

In summary, Bitcoin is expected to rebound to the Bollinger Bands' middle track in the 97,300-98,000 range. The short-term chart shows long upper shadows and significant selling pressure, so entry should be cautious with defensive measures. Overall, the trend is primarily around this range, allowing for flexible trading.

Bitcoin: Short at 97,600-97,800, target 96,000-94,000, with a stop at 98,500 #Bitcoin Dives, 290,000 Liquidations#