Bitcoin daily line shows a small bearish candle retreating lower, oscillating and pulling back below the previous day's high of 95,000. Although the pace is slow, the overall trend is a weak consolidation downward. The weekly K-line also shows signs of a weak pullback, but the short-term rhythm is slower, first oscillating then moving unilaterally. The oscillation is a process of building momentum for a unilateral movement. The daily line is testing the support at the low point of 91,530 as it approaches the low point!

The 4-hour chart is oscillating downward. After being pressured at 95,000, it faced secondary pressure at the first line of 94,250 yesterday, where the secondary high point coincides with the resistance of the Bollinger middle band, forming a suppression retreat. Continue to pay attention to the support at the low point of 91,000 below. The determination of the low point will decide the subsequent market space. If it breaks the low, it will weaken; if it does not break, it will continue to oscillate. The small cycle structure is slightly weak in oscillation, so the market outlook remains bearish!

In the morning operations of Bitcoin, Lin Kun personally suggests a short position on the price rebound at 93,150-93,650, with the target looking down to the range of 91,000-90,500!