Will BTC experience a significant rebound?

Yesterday, BTC tested the bottom support, falling to a low of 92500 before stopping the decline, and then rebounded from the bottom, bringing BTC back to around 95300. We are also seeing a rebound in the market.

Looking at the technicals, the daily chart for BTC closed with a bearish candle again. After the BTC price pierced the lower Bollinger band, it quickly rebounded. In the morning, BTC rebounded above 95000 but then continued to decline. The Bollinger bands are slightly opening, and both KDJ and MACD are showing signs of a death cross, indicating an overall bearish trend on the daily chart, although the closing price suggests a potential bottoming out! On the four-hour chart, the Bollinger bands are widely opening, with BTC trading near the lower band. However, after the price pierced the lower band, it quickly rebounded. In the morning, there was a transition from bearish to bullish. The KDJ turned upward forming a golden cross, and the MACD volume is starting to slow down. From a four-hour perspective, the price might be bottoming out, so everyone should avoid blindly shorting! Overall, while the larger trend remains bearish, there are signs of a potential bottom, so during the day, a long position can be initiated, and we can see if it will reverse after rebounding to the resistance level! The resistance levels to watch are 96000, 97300, 98200, and 99000, while the support levels are at 93400, 92500, and 91500.

BTC trading strategy: Aggressive traders can enter long positions at 93500-94000, add positions around 93000, with a stop loss below 92500. The target is around 94500-95200, if broken, then look for 96000-96500-97000, and if the rebound is strong, hold based on the situation!