Afternoon Bitcoin Market Analysis

Bitcoin is currently still in a strong state. From the current situation, the early morning trend was merely a pullback repair, and due to its weak pullback strength, it quickly rebounded in the morning and has continued until now, experiencing a surge and breaking through the oscillation channel.

Moreover, the 4-hour K-line has closed at a very strong position this afternoon, with the 918 point being above the oscillation range after the previous high's retreat. Therefore, if the 4-hour K-line can close at this position, it indicates that Bitcoin is very strong, meaning that Bitcoin will continue to show a 4-hour level rebound continuation trend, and will at least touch above 930 again.

However, after a round of surge, Bitcoin has shown signs of fatigue, and the technical indicator KDJ is already in the overbought area. I believe Bitcoin will either continue to oscillate until the evening and then continue to rise, or fall back to around 912 to gather strength, waiting for the US market to open before continuing to hit new highs. The probability of a significant drop is small; last week's Bitcoin trend is a lesson learned, as in the context of an upward trend and continuous breakthroughs, an absolute bullish pressure has been formed, and a major drop is generally unlikely to occur.

It is unwise to short at this critical moment; it disrespects the market. If one really wants to operate, they can try a light short near 920, but they must be cautious and avoid deep chasing of shorts. As the saying goes, "Do not chase a desperate enemy."

One could consider going long at 912 - 915, targeting 935 - 95.