The situation in the Middle East continues to escalate, and market risk aversion is on the rise. The value of $BTC experienced severe fluctuations in the early morning, oscillating around the 100,000 mark, with a low of 98,115, followed by a rapid rebound, currently fluctuating around 100,700.
From a technical perspective, the daily chart has seen consecutive bearish candles, and the bearish pattern is becoming increasingly clear. A large bearish candle on the 4-hour chart further reinforces the short-term bearish formation.
The current rebound is significantly constrained, falling back after being pressured multiple times at 101,500, indicating that the rebound is a weak correction, and a trend reversal is unlikely.
Suggested trading strategy for Bitcoin during lunchtime: short positions in the range of 101,000 to 101,500, with a target down to 98,000.
