Morning Bitcoin surged to 999 and quickly retraced to 5000 points, how do we see the market going forward?

There isn't much to review from yesterday's live stream, it was basically a wait-and-see approach with no positions taken. It was mentioned in the live room that there would be a wave of upward movement, from 98 to around 99, and it was thought we might break above 10, but unfortunately, we faced a plunge during the day. Our bears didn't get to enjoy the profits, which is really frustrating 😣

From a market perspective

On the four-hour chart, after breaking the trendline at the highest point of 999, there was a quick retracement, followed by a wave of testing the rebound to entice longs. If everyone had listened to my advice and stayed out of the market, they wouldn't be trapped. Currently, the Bitcoin price is at 953, back within the downtrend line. The drop from 999 to 953 is close to the 5000-point crash, and it roughly offsets the previous evening's rise, creating a situation of dual washing for both bulls and bears.

From the Bollinger Bands indicator perspective

On the daily chart, the 100,000 mark is at the middle band, facing resistance and retracing. We are still 2500 points away from a drop to 930. Currently, the four-hour middle band is at the 965 line. The market is retracing, and just like last night, the middle band breaks through without hesitation. Tonight, we bears still have a chance to enter the market.

From the news perspective, everyone should pay attention to the unemployment claims at 21:30. It probably won't have much impact, but we bears can take this opportunity to get in.

In summary, today I personally believe that if Bitcoin rebounds to the 965 line, it can be entered with a 3% cut. Those who are more cautious can join the live stream tonight to open positions together.

If you find this viewpoint helpful, please use your little hands to hit follow. I'll bring you live streams with drinks and food 🤪🤪#比特币市场波动观察 $BTC