On Monday afternoon, Bitcoin dipped to a low of 92961 in the morning before stopping its decline and rebounding. It is currently under pressure from the middle band of the hourly chart, with the highest rebound only reaching 94240 before falling back. It is now oscillating around 93800 for correction. The main strategy is to continue shorting during the day, with attention to the previous low support at 92200, followed by 90200. It is better not to chase long positions for now; it is preferable to wait for a rebound to test resistance before considering high shorts!
From a technical structure perspective, the short-term four-hour Bollinger lower band has been broken. Next, we focus on the support of the six-hour lower band. On the 12-hour and daily K-line levels, the trend is currently bearish, with the price also testing the support of the daily K-line lower band. The trend continues to decline, and there are currently no signs of a stop in the decline.
Short-term rebounds are under pressure, and the resistance on the four-hour chart is around the middle band line at 94700, where the resistance is relatively strong, serving as an intraday short entry point. The adjustment trend has not yet ended, and high shorts need to continue!
Afternoon BTC short-term operation: rebound in the 94300-94800 range, targeting 93000-92000.
The situation is significant, with consecutive wins still ongoing. I can't determine long or short myself, so I focus on the strategy and move forward together! Let's create brilliance again!
