For short-term Bitcoin trends, two points need to be noted:
1. Short-term caution should be exercised regarding the rebound repair after two consecutive days of significant declines;
The price dropped over 10,000 points within two days, and there was no rebound adjustment during this period. Yesterday, it fell nearly 5,000 points again from above 97,000, reaching a low of around 92,500; however, today, it has not broken the low. After briefly falling below 93,000 on the hourly chart, it rebounded. Attention should be paid to the strength of the rebound this evening.
2. Testing resistance levels for the rebound repair may trigger a secondary breakdown.
Daily support is at 91,500, and there is still room for decline in the short term. Even if a rebound repair occurs, it cannot be directly concluded that there is a reversal in the short-term structure; attention should be paid to two levels above: 96,000-97,000; 96,000 is the starting point of the drop last evening, and this level can serve as a point for a second bearish short position.
1. Short-term caution should be exercised regarding the rebound repair after two consecutive days of significant declines;
The price dropped over 10,000 points within two days, and there was no rebound adjustment during this period. Yesterday, it fell nearly 5,000 points again from above 97,000, reaching a low of around 92,500; however, today, it has not broken the low. After briefly falling below 93,000 on the hourly chart, it rebounded. Attention should be paid to the strength of the rebound this evening.
2. Testing resistance levels for the rebound repair may trigger a secondary breakdown.
Daily support is at 91,500, and there is still room for decline in the short term. Even if a rebound repair occurs, it cannot be directly concluded that there is a reversal in the short-term structure; attention should be paid to two levels above: 96,000-97,000; 96,000 is the starting point of the drop last evening, and this level can serve as a point for a second bearish short position.