Wednesday, Bitcoin bottomed out and rebounded, going long directly at 92500

Bitcoin plunged overnight, with the lowest dropping to 91200. The sudden shakeout caught everyone off guard. Fortunately, I warned everyone last night about the risk of retracement, so probably no one chased the high? It seems like a retracement confirming the low support, but in fact, it’s also to make room for more buyers. The bullish trend remains unchanged; be bold and go long during the day.

On the four-hour chart, large bearish and bullish candles fluctuate up and down. The candlesticks remain supported by the middle band of the Bollinger Bands, rising steadily. The small dips indicate that selling pressure is weaker than expected. Subsequently, it gradually recovers and moves higher. Currently, Bitcoin is consolidating around 92750. In the short term, observe the rebound strength. If it cannot break above 95000, consider shorting.

Bitcoin: Suggest going long in the 92300-92600 range, target 95000. If it doesn’t break, consider shorting again.

Eight-year veteran trader, witness of bull and bear cycles, working alone is less effective than walking with the light. Buddha guides those with fate, only waiting for the dedicated.