There are some pending orders at 98, and the volume is unlikely to serve as support and will need to be liquidated. Once it touches around 95 again, it will halt the decline and form a one-hour MACD bullish divergence. If the intensity increases and no bullish divergence is formed while continuing to decline, it will lead to a weekly pullback drop.

The intraday BTC rebound position at 1028 is basically at the 0.382 of the downward Fibonacci, after which it continues to decline, reaching the 100,000 level. There are some orders at 100,000 on the order book, but the volume is not very large. It is expected to drop to the 95-97 range. After an hour, the MACD shows a bottom divergence and rebounds again. Whether the rebound strength can break the new high remains to be seen. However, I personally believe the probability of breaking a new high is only 30%. It is more likely to hover around 10 and then move down again to reach the previous drop needle line and break below the liquidation of long leverage.