Regarding the trend of Bitcoin, yesterday showed a V-shaped reversal roller coaster trend. The Asian market rose, the European market started to fall, and the US market continued to fall despite the negative ADP data. The overall market looked very weak.

Looking at the daily chart, Bitcoin is still running above the 60-day moving average. Today's focus is on the strength of the rebound, and the intensive suppression level is between 29250-29300. In view of yesterday's sharp drop and the upcoming non-farm payroll data on Friday, the market is expected to be volatile today and tomorrow.

Therefore, day traders are advised to remain prudent and approach the market with a bearish mindset for the time being. For intraday operations, you can first focus on short-selling opportunities, but you need to pay close attention to whether there is a reversal signal, because the market trend may affect the trading strategy.