Yesterday, the price of Bitcoin dropped to around 95200, falling below 95000 in the morning.

Due to the holiday, Bitcoin's volatility is not high.

From the trend perspective, this round of Bitcoin is a daily-level correction, and it has now fallen back to the previous range. The daily MACD is about to cross bearish, so the initial target for the correction is around the 20-day moving average at 91800, where a small rebound is expected. However, I believe the 20-day line will not hold, and this round of correction is likely to find support near the 60-day line, which is between 86000 and 87000. We will specifically look at the subsequent support situation of the 20-day line at 91800.

From the 4-hour perspective, the MACD green bars are increasing, continuing the downward trend. The lower edge of the previous range between 92000 and 96000 is expected to have support near 92000, which is roughly around the position of the 20-day line. We will observe whether there is a weak rebound when it drops here, but do not have high expectations.

On the weekly chart, last week closed with a bullish doji star, and there have been 4 consecutive weeks of gains. Therefore, this week is expected to close bearish. If this round of daily correction can reach around 87000, we will observe the stabilization situation at that time, which may present an opportunity for a rebound. As for whether the mid-line position can drop below 80000, I am currently uncertain and can only wait to see the specific correction position and technical patterns.

Additionally, for short-term operations, do not take heavy positions, and make sure to set stop-losses; each loss should not exceed 5% of the principal to cultivate the habit of stopping losses.

Of course, for mid-line investors looking to buy at lower prices, as long as you grasp the relatively low points and have a sufficiently large risk-reward ratio, it is worth taking a heavy position to speculate.

Summary:

1. Bitcoin correction is ongoing, with a short-term target of 92000. If it falls below 92000, then look at around 87000.

2. Mid-line buying at lower prices requires further waiting.