Yesterday's analysis pointed out that the four-hour chart has broken the low of 91000, which means that the daily downtrend structure we have been emphasizing has formed. At the same time, the daily up/down structure within the weekly downtrend structure has also been completed, thus confirming the weekly pullback downtrend structure. From an overall structural perspective, the market may welcome a rebound at any time. However, 96000 is still a key point that needs to be closely monitored in the past two days. If it can effectively break through this point and pull back above 89100 without breaking it, it is expected to initiate a major upward wave.
However, it is important to note that the strength of this weekly pullback is relatively weak, and it has not even touched the Fibonacci retracement level of 0.38. Additionally, there are no panic selling signals at the daily level. Therefore, a relatively simple observation strategy can be adopted: focus on the resistance level above at 96000 and the support level below at 89100.
If 96000 is still difficult to break through and seeks support again, it is essential to focus on whether 89100 will be broken. Once it breaks, the target below will look at 86000. Conversely, if 89100 holds steady, it can be seen as an extension of the four-hour level center. This is a relatively clear market trend.
I personally believe that if the price can fall back to the 86000-89000 area and form a second center at the daily level, it would be an ideal state. Subsequently, it could form a daily double-center consolidation divergence, leading to a major upward wave.
Spot Strategy:
Yesterday, I built a position of 40%, and some cryptocurrencies' prices are close to the bottom area. If the price continues to decline and breaks the previous low, I will consider adding to my position at the right time. If the price stabilizes and rebounds, I will look for opportunities to allocate to other spot assets.