During the early hours, Bitcoin price held onto the key support level around 93,500, activating the demand for a 4-hour divergence adjustment and successfully welcoming a rebound.
However, the intraday rebound failed to break through the 1-hour range, indicating insufficient short-term upward momentum, and caution is needed for the risk of a pullback. The bottom support in the 1-hour range is at 93,800.
After the rebound corrected the divergence on the 4-hour level, it still presents an overall downward trend, with the bottom support of the range moving down to around 93,300.
If the price cannot break through the middle track to reverse the downtrend, the probability of a downward fluctuation will further increase.
In the short term, it is crucial to focus on whether the support in the 1-hour range can hold; once it breaks, the stop-loss signal at the 4-hour level will become invalid.
Currently, Bitcoin continues to show a fluctuating downward trend, and this week, we need to closely observe the key support performance at the daily MA120 moving average of 91,450.
