Monday Evening Analysis
Bitcoin is currently in a rebound from an oversold condition, trying to open an upward channel.
The strong resistance is at the 97,500 level, and once breached, it will likely retest the 102,000 position.
A series of operations have been carried out to test the previous support level of 98,000 on the 4-hour chart, confirming that the upward channel is effectively broken, which could lead to a waterfall retracement.
Returning to the upper selling pressure, it appears quite strong; tonight, it is expected to be difficult for Bitcoin to reach the 97,000 level before starting further bottoming efforts.
As for tonight, consider entering a short position at 96,000!
