Weekend Morning Insights: Bitcoin is consolidating after a period of accumulation, the fundamental repair is almost complete, and today's theme remains bearish!
Bitcoin experienced a rebound overnight, but the momentum is still weak. The rebound in Bitcoin has reached its target, with strong resistance above, and bearish sentiment remains strong. After a prolonged period of sideways consolidation, it is now essentially repaired, and in the subsequent market, a slight rebound is enough to short!
From the 4-hour chart, we can see that the weekend market is still maintaining a oscillating rhythm. However, the candlestick is consistently suppressed by the moving averages, being pressed down against the ground. The candlestick can only move downward, and the resistance above remains strong. The candlestick continues to form upper shadows, indicating the exhaustion of bulls, and a slight rebound should be utilized to continue shorting!
For Bitcoin's morning operations, I personally suggest shorting when the price rebounds to the 95350-95850 range, with a target looking down towards the 93500-93000 range!