Friday Morning Analysis: Market Under Pressure, Limited Rebound, Today's Theme Remains Bearish!

Bitcoin once again descended weakly from a low position yesterday, with the rebound highs decreasing and the strength of the rebound diminishing. The weak one-sided trend is more likely to be released, accompanied by prolonged consolidation before further breaking lower. This has formed a fluctuating weak downward trend. The range of consolidation in the past few days has been significant, mainly for building momentum. After the momentum-building phase, the next step will be weak volume expansion in the market. In recent days, there has been a wave of release in the market, and we still expect habitual continuation in the future!

After breaking lower, today's resistance is at the 97000 level, which is the turning point for highs and lows. After the market breaks lower, there is a slight pause here, ultimately closing lower, and a direct drop further solidifies the weakness. The short-term outlook remains bearish. After today's decline, the daily line has slowed down somewhat; it may oscillate and recover for a while before creating more space. However, considering that the 4-hour step pattern still maintains a downward rhythm, the approach of remaining bearish on rebounds should not change until the next high point is broken. A breakthrough will then require an adjustment of strategy. We will continue to maintain the outlook for lower prices. Today's theme remains bearish!

For evening operations, Lin Kun personally suggests shorting on Bitcoin price rebounds between 96350-96850, targeting a drop to around 94500-94000!