Bitcoin Analysis
First, let me share my current view: the Bitcoin market has formed a daily level breakdown, and the overall expectation is that it will continue to worsen. Currently, I see a short-term upward opportunity, but in the future, I recommend looking for pullback opportunities to short from higher levels.
First, from the 4-hour chart, there is an overall short-term demand for upward correction in the market. Traders can consider placing their stop-loss around 95800 and testing the upward movement.
However, overall, Bitcoin still has the potential to continue to worsen. The most prudent approach is still to position for short trades, but not to chase the decline at the current position, as the risk is too high.
I recommend waiting for an upward pullback to gradually position yourself. Currently, short positions are more suitable for observation with no holdings. There will still be significant volatility in the market tonight, so seize the opportunity to enter high positions and set a proper stop-loss.
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