Wednesday Morning Analysis

Yesterday, the price of Bitcoin encountered resistance near the 90,000 mark, followed by a significant decline, dropping by 5,000 points. In the evening, we accurately predicted a rebound around the 85,000 level and set a target of 3,000 points, which has been perfectly validated by the market.

At midnight, the price of Bitcoin attempted to rise again, trying to recover and test the 90,000 mark but failed to break through, subsequently beginning a slight pullback. However, it is worth noting that the market quickly recovered the 5,000 points lost in a short period, once again highlighting the strength of the bulls.

From a technical analysis perspective, the 4-hour candlestick chart shows that after two consecutive bearish candles, a strong bullish candle successfully recaptured the previous decline. However, the price is currently facing resistance again and has turned into a bearish candle, indicating that the market may still face some downward pressure in the short term. Nevertheless, I remain optimistic about the continuation of the bullish trend in the later phase of the market.

Wednesday Morning Thoughts

Buy Bitcoin on dips near 87,000, targeting 88,000-88,500.