Bitcoin has begun a short-term adjustment journey of 4 hours. During the decline, it broke below the support level of 96,000, which has trapped many long positions that were trying to catch the bottom. This situation was mentioned last night.
At this moment, the price has come to around 93,000, which happens to be the high point on November 13, forming a position where support and resistance interchange.
According to the data from the past two days, there are quite a few trapped short positions in the range of 90,500 to 91,500.
The key now is whether you choose to exit or continue to hold.
Next, after the 4-hour consolidation period ends, Bitcoin is likely to make another push towards 100,000 USD, potentially reaching the third target of 103,000, depending on whether it can successfully achieve this in the last few days of this month.
