Early morning V-shaped reversal! Bitcoin 88000 key level precise rebound, operating under volatile patterns is more stable this way!
An exciting scene played out in the cryptocurrency market early this morning! BTC first dipped to the critical support level of 88000, then quickly rebounded in a V shape, currently oscillating around the integer level of 89000, with both bulls and bears temporarily locked in a stalemate!
From a technical perspective: The daily chart shows a notable contraction with consecutive bearish candles, with bears still dominating, and the rebound lacks effective volume support, making sustained upward movement challenging; the four-hour level is more intuitive, with bearish momentum continuing to increase, and prices tightly cling to the lower Bollinger Band, with no signs of easing in the bearish pattern; looking at the hourly chart, narrow oscillations have become the main theme, combined with the characteristic of weaker market liquidity on weekends, it is highly likely that the market will mainly consolidate in oscillation in the short term.
In terms of operation, Brother Yu continues to adhere to the strategy of "mainly short on high, with some long on low!"
Key attention should be paid to the resistance strength at the upper integer level of 90000, while the lower side should flexibly layout based on the support level of 88000.
Specific strategy: BTC rebounding to the range of 89800-90600 can decisively layout short positions, targeting a downward move to 88800-88000, with stop losses set appropriately to avoid the risk of weekend market fluctuations!
