Thursday, the rebound of Bitcoin weakens, with obvious resistance at the 95000 level, and short-term continues to oscillate and consolidate!
Last night, the Bitcoin market saw a spike rebound to the 94900 level before quickly retreating, stopping at the 91900 level and rebounding above 93000, beginning to oscillate and consolidate. In the early morning hours, after the bullish momentum slowed down, we suggested a high short strategy, looking for a pullback adjustment. As of now, the market has not broken out, with both bulls and bears locked in a tug-of-war, and the price continues to face strong resistance at the 95000 level, making it difficult to break through. In the short term, it may continue to oscillate in a compressed pattern. From the four-hour chart, although the support level below effectively resists the bear attacks, there is obvious selling pressure above, and the accompanying indicators show a decrease in volume. The short-term upward movement is weak and requires adjustment. Therefore, in the morning strategy, we still look for a pullback adjustment to complete the correction and build strength before continuing to take long positions with a bullish outlook!
On Thursday morning, Bitcoin rebounded near 94500, continuing to short first, while still paying attention to the 92000 level below. If it retraces and stops, decisively reverse to take long positions and continue to look for bullish momentum to extend!
