Bitcoin current price 94400, considering shorting

Today's market outlook is bearish, and a significant decline is expected. Although Bitcoin rebounded overnight, this is merely a temporary adjustment, and after the rebound, a more intense downward trend may follow.

From a daily perspective, Bitcoin remains under pressure, consistently positioned below the moving averages. The moving averages act as a solid defense line, difficult to break through. It is advised not to blindly follow market trends, such as chasing long positions when the market rises and short positions when it falls.

This strategy may bring short-term gains, but it is not robust in the long run. Currently, on the weekly chart, Bitcoin is still in a high-pressure state, and the rebound seems to be fleeting, making it hard to form a sustained upward momentum.

The specific operational strategy is as follows:

Short around the current price of 94400, with a stop-loss set at 95500, and a target price of 92000. Investors are advised to operate cautiously and allocate risk appropriately.

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