After two days of waiting, Bitcoin finally rebounded. We mentioned it repeatedly in our article yesterday (as shown below). The price may fall back before a short-term rebound. Last night, it reached a low of around 29761. Until 6 o'clock tonight, Bitcoin just reached the position around 30417 under pressure, perfectly reaching our expectations.
So how will the market develop in the future? Will it continue to surge?
First of all, from the 4-hour market, Bitcoin is still oscillating in the 29800-31200 area, and the market has not taken a clear direction. We can only further analyze that after Bitcoin fell from the 31804 position, it has been in a negative decline, and the price trend is very weak. If the future market is to further rise strongly, it must recover the previous decline. Judging from the current market, 30500/31000 is still under great pressure. If it rebounds again near the upper suppression position, it cannot effectively stand up, which is a better selling position. This is also the upper suppression position that we need to pay attention to next.
