Wednesday Morning Analysis

After a continued decline to a low of 94925, Bitcoin rebounded, fluctuating back up to 96180 and stabilizing. The market exhibited a pattern of decline followed by an increase. The rebound anticipated by Lao Zhou has been validated.

From the current market situation analysis, the overall movement of the cryptocurrency price is still oscillating within the established range. However, the high points of the rebound are gradually decreasing, indicating a gradual weakening of the upward momentum at the daily level, with the expected space for rebounding increasingly shrinking. Although there are attempts at rebounds, the lack of strength keeps the market in a critical period of directional choice, presenting an overall pattern of oscillating tug-of-war. From a longer-term perspective, we still need to focus on the upward momentum as the core strategy. At the four-hour level, the market is still in a stage of bottoming out and recovering, but the recovery of momentum seems to be lacking. Therefore, in our morning suggestions, we still recommend focusing on the pressure of upward momentum.

Trading Suggestions for Wednesday Morning

Bitcoin 96500-96300 can be shorted, looking down to 94000-94500 #BTC☀ #ETH🔥🔥🔥🔥