Significant Signal! Bitcoin's daily chart is about to form a bottom, and a rebound is imminent!
The Bitcoin trend is basically in line with expectations, breaking through 93000 and holding the 92500 level, temporarily alleviating short-term downside risk. The market has already digested the Black Friday expectations, and there is no need for excessive panic.
Currently, pay close attention to the 94200 position. If it can stabilize here and build a bottom structure, the basis for a rebound will be more solid. It is worth noting that some institutions have started to support the market, which has a stabilizing effect on market sentiment.
This week, it is essential to focus on the release of economic data. Due to the previous long government shutdown, this data may trigger more severe market fluctuations than usual.
If the daily chart closes at the current level, it will form a short-term bottom signal. If you feel that entering at the current price level is not stable enough, you can wait for the price to stabilize above 94800 before considering intervention.
The key resistance at the four-hour level is around 96800, which is an important pressure zone recently. Although the medium to long-term outlook is bullish above 106000, the prerequisite is that the weekly chart must regain the 101000 level.
If the four-hour level continues to raise the lows, bears need to remain cautious. Today's closing pattern has important guidance for the subsequent direction.
Personally, I believe there is a technical correction demand after the market has been oversold. In fact, there is no need for a large amount of buying pressure; as long as the selling pressure eases, a natural rebound of several thousand points is not difficult.
Although I have personally been stopped out multiple times while trying to catch the bottom, I am currently only operating with a light position, but I still look forward to the market regaining vitality. Lastly, a reminder: if this time you can miraculously break even, be sure to remember the lesson—strictly set stop losses and avoid blindly increasing positions while in floating losses.
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