Today's Bitcoin Analysis
From the observation of the four-hour technical pattern, Bitcoin's current trend has revealed clear bearish signals: the MACD indicator has formed a death cross, which means that short-term bullish momentum has significantly weakened, and the upward driving force of prices continues to diminish;
At the same time, the KDJ indicator's three lines are diverging downward in unison, further confirming the dominant position of market bearish sentiment. Considering the market characteristics, it is expected that there may only be technical rebound demand in the short term, making it difficult to reverse the overall downtrend. It is advised that friends seize the rebound window and position for short-selling at high points.
Bitcoin is bearish near the rebound range of 96800-97000, targeting 93000 below.
