After a strong performance in the first half of the week, Bitcoin's market gradually shifted to a volatile rhythm. After reaching a high and retreating from the 91600 line yesterday, it halted its rebound. In the morning, a short position was suggested above 94000. The price rebounded to around 94400 and then once again corrected downwards, stopping at the 92700 line. Currently, the market is maintaining a sideways fluctuation around 93500.
From a short-term perspective, the resistance above and support below are very clear. With insufficient liquidity, the possibility of a unidirectional movement in the short term is not very high. Today is Friday, and if there is still no breakout action in the evening, the volatility rhythm will continue. On the 4-hour chart, the rebound high point of the price has shifted downward, and the strength is gradually weakening. The indicators are becoming increasingly blunt, and the current MACD has entered a bearish cycle, while the market is showing volatility. This suggests that after the morning's retracement, the price halted its rebound, but the volume did not keep up, forming a top divergence pattern. A subsequent retest may be quite significant, coupled with the fact that the market is relatively positioned in the upper-middle range of the fluctuation zone. Therefore, for the short-term strategy tonight, continue to treat it as a high short position!
On Friday evening, Bitcoin continues to reference short positions above 94000, with a retest of the 91600-92000 support area stopping further action. As long as there is no breakout, continue to treat it as a range! If there is a breakout action in the evening, we will adjust and follow the trend accordingly.
