From the analysis of the short-term market rhythm of Bitcoin, its operating channel is opening downwards, which creates a trend for the price to test the bottom and free up space.
However, the price drop has already been halted, and there are also signs of recovering some of the previous losses.
From the perspective of trading volume, the bearish volume is decreasing, and the moving averages, after consistently trending downward, have now begun to turn upward. All of this indicates that the price of Bitcoin is warming up.
In the current four-hour timeframe, the price of Bitcoin has not risen significantly before dropping again, and it is now testing the low support levels.
At this time, the operating channel has also narrowed, with frequent conversions of long and short volumes, and the market's oscillation range has become smaller. Moreover, in the shorter cycles, this oscillation state has not changed; the short-term market is first fluctuating downward and then recovering slightly, with no continuation of the downward price trend.
Based on this market situation, the upcoming operational strategy mainly focuses on buying low, which means going long when the price is low.
For Bitcoin, if you go long directly, from a swing trading perspective, the target price can be seen at 91,000.
