The trend of Bitcoin has retreated as expected. In the four-hour chart, two large negative lines fell rapidly. Although the four lines rebounded, they were weak and were in the stage of consolidation and repair. It is difficult to return to the $103,000 level in the short term, and there is still room for further exploration.
At the daily level, the bullish trend has been completely reversed after two consecutive days of negative closings. It is difficult to rise sharply in the short term. There is a high probability that it will fluctuate downward in the future, and the retracement process has not yet ended.
On the upside, we should pay attention to the strong resistance level of $103,000 at the daily level, and on the downside, we need to pay attention to the first support of $94,000, the second support of $90,000, and the strong support of $85,000.
In my opinion, Bitcoin will fluctuate downward in the future, but the market is unpredictable, and prudent decisions are still needed when investing.
If you want to dig deeper into the cryptocurrency circle, but can't find a clue, and want to quickly understand the information gap, whether it is a contract or spot, you can 👉 Learn more in my profile
