In the early morning market, the price of Bitcoin first declined and then rose, quickly rebounding after dipping to a low of 87504, peaking at 89972 before slightly retreating; the behavior of the altcoin followed suit, rebounding to 3150 after dipping to a low of 3022 before stopping. In the 4-hour chart for Bitcoin, the previous five consecutive bearish candles opened up downward space, with the price dipping to the stage low of 87504, and the bearish candles clearly demonstrate the persistence of selling pressure. The subsequent rebound's large bullish candle is merely a technical correction after the decline, lacking volume support and not signaling a trend reversal. The Bollinger Bands show a downward-opening trumpet structure, further confirming the bearish trend, with the upper and middle bands continuously sloping downwards, and the price consistently running below the middle band. Even when rebounding, it only touches the middle band before facing resistance. The operational strategy should focus on selling high during rebounds, positioning short orders based on the pressure zone formed by the lower edge of the previous consolidation range and the middle band of the Bollinger Bands, and avoid blindly bottom-fishing until the bearish structure undergoes substantive changes.
Operational Suggestions
Sell Bitcoin around 89700—90200, target 87500
