On Saturday morning, Bitcoin's market experienced a thrilling two-stage reversal, a fierce battle between bulls and bears that caught many off guard. Currently, the daily chart still shows a trend of fluctuating downwards. Although there has been a short-term rebound from the bottom, the second drop point of 98300 has not been fully recovered. Meanwhile, we determine that the bullish watershed on the daily chart is at 99700, which means that as long as the daily chart does not stabilize above 100000, we will not look above or even for new highs. If it moves down, the endpoint of this decline will be at the 88000 level. If Bitcoin falls back to this position this month, it is bold to lay out long positions; any level below 87000 presents opportunities, including altcoins, without hesitation.
In the short term, after breaking through the short-term resistance on the four-hour chart, it has not continued to rebound but has fallen back after facing pressure at the 97800 line. Thus, this rebound after finding the bottom can only be considered a corrective rebound in the downtrend. From a technical perspective, the overall trend remains bearish; the short-term watershed is at 98000. If this position breaks and stabilizes, we will continue to look up to 99000-100000. Conversely, if it falls, we will look at the low point of 90000.
Midnight BTC short-term operation: rebound in the 97800-98300 area, targeting the 96000-95000 area.
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