$BTC

2.28 Bitcoin Analysis

Currently, Bitcoin has shown a rapid V-shaped reversal trend, characterized as a fourth wave rebound on the daily chart. A long lower shadow has formed on the daily chart, indicating a bullish outlook in the short term.

The expected top position for this rebound is in the 8900-9100 area. If it reaches this level, one can consider taking a right-side short position.

Currently, in the short-term, the 84800 and 86700 areas above should be monitored for resistance conditions.

Now that this rebound has occurred, the short-term outlook will continue to be bullish. Ideally, it should rise all at once. If the resistance area above faces pressure and retraces, one can wait for a pullback and rebound.

Both bulls and bears have opportunities; those who haven't entered the market can only patiently wait for the resistance conditions during the upward rebound.

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