Midday BTC Market Report!

This downward trend really hasn't stopped, the four-hour chart's moving averages are definitely in a bearish arrangement, and the RSI has dropped below 35 into the oversold zone, weakness is obvious～

There's not much to say technically, 93800 has completely turned into a strong resistance level, it's too difficult to push upwards under multiple pressures; the news isn't helpful either, Grayscale's GBTC is still experiencing continuous capital outflow, and the Fed's interest rate cut expectations have been postponed, market sentiment is quite pessimistic.

Here are the trading suggestions from Yang: Enter short positions in the 91900-92400 range on the way up, with the initial target at 91000, and it would be better if it can push towards around 90100 later～ Key reminder: be sure to set a stop loss, extreme market conditions can come unexpectedly, respond flexibly and don't stubbornly hold on, stability is key! $BTC