1.5 Technical Analysis

As the price of the cryptocurrency rebounds and once again approaches the 99,000 mark, the market has shown signs of quiet warming. The decline of Bitcoin has been contained, and the rebound is evident. However, based on market data and news, it still seems challenging to expect a strong upward surge in the short term.

Additionally, with low market liquidity over the weekend, Bitcoin is expected to continue fluctuating in the range of 97,000 to 98,500. In the short-term perspective, it is normal for Bitcoin to experience a slight rise followed by a pullback, as the moving averages are turning downward and spreading out. In terms of MACD volume, the bulls have not shown a good release, leading to a slight decline in price.

From a short-term structural standpoint, there is still a downward demand for the cryptocurrency price, but we maintain a bullish outlook in the larger context. Future operations should focus on participating around low points!

Bitcoin's pullback is targeted at 97,300-97,600 with multiple targets at 98,800-99,800.