In the morning, the Bitcoin first surged to around 95,100, but the bulls did not continue to extend. After encountering resistance above, it began to pull back. In the afternoon, the price showed a stepwise decline, with the lowest point dropping to around 93,800 before stopping and starting to fluctuate. Currently, the price has retraced to around 93,900.
Currently, Bitcoin shows signs of weak rebound at the 1-hour level, and technical indicators indicate a short-term bearish advantage. The middle line of the Bollinger Bands (BOLL) at 95,044.7 constitutes resistance, with the price attempting to break above multiple times but failing to stabilize. The upper line at 96,784.8 and the recent high of 97,865.4 form a strong resistance zone. Although the KDJ indicator has exited the oversold zone, its slope is flat, indicating insufficient rebound momentum; the MACD histogram remains in negative territory, with the DIF and DEA lines below the zero axis, indicating that the bearish trend has not changed. If the price continues to be pressured below the middle line, it may test the lower line of the Bollinger Bands at 93,304 for support again in the short term, and if it breaks below, it could drop to the previous low of 92,848.1.
Bitcoin strategy: Short around 94,500, target 93,000
Ethereum strategy: Short around 1,800, target 1,840
