From the daily chart, the pressure on Bitcoin at 98,000 is still very strong. To rise again to 98,000 after this pullback, we need to pay attention to this week's interest rate data.
There have been three consecutive days of decline on the daily chart, and the MACD has also formed a death cross. Bitcoin has now pulled back to the 94,000 level, which is in line with our expectations. If it can hold up this week, the market will likely fluctuate in the range of 94,000 to 98,000, and a breakout will provide new directional trends.
This morning's pullback saw Bitcoin's lowest point reach around 93,500, closing with a pin bar. The morning's decline should be chased for gains, and today Bitcoin can still be seen as bullish for a rebound. The first target level above to focus on is around 95,000.
