$BTC

The current market is in a rebound phase. There is still a certain demand for rebound on the hourly chart, but the trend of Bitcoin breaking down remains unchanged. The bears are yet to show a significant drop in volume, so pay attention to whether the resistance at the top and bottom conversion between 94500 and 95000 is established.

The trend has recently shown a clear downward trend. In the 4-hour cycle, a candlestick with a long upper shadow appeared, indicating significant selling pressure above. In terms of technical indicators, the MACD in the 4-hour cycle has continued to be negative and is expanding, with both DIF and DEA diverging downward, indicating strong bearish strength. However, the recent sharp decline may provide some room for a corrective rebound. After the rebound is complete, short positions can be entered.