Friday Morning Insights: Continuously Falling from Grace, Weak Momentum Remains, Today's Theme is Still Bearish!

After a long-winded explanation, I wonder how many of my old friends truly listened? Overnight, Bitcoin fell again, continuing to decline. Those who kept up with the rhythm until midnight can see the results this morning. The thought process has also been publicly shared across the network; if you choose not to listen, there's nothing I can do. Lin Kun still says, it’s all about the trend!

From the 4-hour chart, we see that the price continues to break through lower support levels, with the market maintaining a weak downward trend. It has completely broken the previous consolidation phase, forming a strong downward fluctuation. It has consecutively fallen below multiple support positions while pulling the moving average indicators downward. This downward exploration corrects by trading time for space. This is a somewhat strong corrective consolidation. This is also something Lin Kun has been emphasizing for some time; when the market consolidates for too long, it will choose a direction and then explode again. This is the power of bears. Currently, the space below has fully opened up, and there is no doubt that it will still be bearish!

For Bitcoin's morning operations, Lin Kun personally suggests shorting when the price rebounds to 93000-93500, with the target looking down towards the 90000-89500 range!