$BTC
Trend Analysis:
After a quick rebound back to the 95k+ level following a dip to support at the four-hour level last night. In the short term, the value of continuing to short near 95000 has already diminished. Currently, there are reversal signals in the trend. The short-term bullish target will still aim to probe the key level around 100k.
On a larger scale, after forming a double bottom with a wedge reversal upward, there was no upward breakout. The market sentiment has shifted, and since the first reach of 90k, in the oscillating market between 90k-109k, the trend of Bitcoin has been continuously adjusting. The most hopeful upward breakout in late January ultimately ended in failure, and the bullish breakout in the oscillation range of 90k-109k has been declared over.
Currently, the viewpoint on the subsequent price trend of Bitcoin remains a breakdown below 90k and 80k. After completing a 30-point pullback since 108k, the crazy mode of the late bull market will be initiated.