Bitcoin Daily Line Fluctuation End Choice: Defense Line at 88000 and Breakthrough at 94000 Game👎👎👎
First, looking at the daily line level, Bitcoin's weekly line shows an upper shadow, indicating resistance to the rebound. There is a risk of a bearish adjustment this week, and whether it can return above the descending trend line will become a point of observation for the weekly strength and weakness. The daily structure continues to maintain a fluctuation pattern in the range of 88000-94000, and the price needs to break through the upper edge of 94000 with volume to further challenge the pressure near the 97000 FVG gap. Currently, the MACD green bars continue to shrink, and there is a possibility of a dead cross in the RSI, with the daily level pullback pressure accumulating.
Secondly, looking at the 4-hour level, Bitcoin's price is still operating within a large-scale upward fluctuation channel, but the short-term structure has formed an M-top prototype. If it confirms a downward break of the neckline, the theoretical downside target is near 88500 (previous low support zone). If this support zone (87500-88500) is effectively broken, it is necessary to closely observe the defense situation near the lower track of the large channel at 86500. If this level is lost, it means that the current upward fluctuation structure may declare an end, and the market may enter a new round of downward consolidation.
Intraday Operation Suggestions:
Short position near 88500-87500, target 90500-91000
Short position near 91000-91500, target 89000-88000
