Recently, Bitcoin and the market sentiment have experienced several downward trends, but they have started to rebound from the bottom. However, a rebound does not necessarily mean a reversal.

From a technical perspective, Bitcoin and the market sentiment are gradually rising on the daily chart, but the upper resistance level is still quite strong, remaining in a downward channel. To continue to open up the upper range, it is still necessary to break through the resistance. Bitcoin mainly focuses on the dual resistance levels around 91600/93000, while the market sentiment mainly focuses on around 3170.

In the evening, it is highly likely to test the dual resistance upwards, and during the day, one can try short positions while maintaining good defense!