On Friday morning, Bitcoin surged and then retreated. After reaching a high of 99,950 yesterday, it began to pull back, dropping to a low of 95,153 before bouncing back. The current price is around 95,400. In the past 24 hours, it shows that over 114,000 people have been liquidated, primarily long positions, indicating that long positions have been liquidated for 230 million USD, while short positions have been liquidated for 57.81 million USD. The bearish outlook remains unchanged for the day, and the previous update has already provided insights, so there will be no repetition here!

Currently, the price is moving between the middle and lower bands of the daily chart, oscillating within a range, with upward and downward price action. It is under pressure from the middle band, currently experiencing a pullback. Although it has temporarily stopped, the daily and four-hour charts do not look optimistic. The visible price action shows a clear pattern, and the focus should be on shorting during this short-term adjustment and rebound. At this time, don’t think about catching the bottom.

Overall, the current market is oscillating around the 100,000 - 92,000 region. As long as the range remains intact, there will be frequent jumps up and down for price action. The market cleared out short positions the day before yesterday and long positions yesterday, cleaning up the chips within the market in waves. If today’s price cannot return above 97,000, then there are signs of a continued weakness tomorrow. It will only reverse after the bulls have been thoroughly washed out.

Morning BTC short-term operation: rebound in the 96,000-96,500 range, targeting 93,500-92,500.

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