BTC Market Analysis

The price of Bitcoin dropped again yesterday, hitting a low of around 91500. It can be observed that the recent market sentiment has been quite sluggish, mainly due to a period of consolidation after Bitcoin broke the 100,000 mark!

In terms of trends: The smaller time frames have been continuously declining, but the extent is not very large. One can wait for a rebound near the strong support at the bottom, focusing on the strong support range of 90500-90000.

Short-term resistance appears at 94000, which can be monitored, as well as the previous rebound peak around 95000!

For now, we will operate based on the range consolidation, taking high positions on short and low positions on long. Today, focus on 90500-90000 below and 94000-95000 above!

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