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Today’s overall market trend was initially suppressed and then rebounded. During the midnight phase, there was a small waterfall decline, with Bitcoin dropping to around 87200!
Recently, the market’s operational pattern has been very clear. The major trend is showing a decline, and although there have been corrective rebounds within the range, the upward momentum is clearly insufficient.
Currently, the market faces renewed pressure and is starting to rise again, with the bears steadily gaining ground. On the four-hour chart, the price is trading below the middle band of the Bollinger Bands!
The three Bollinger Bands are trending downward, and the rebound momentum is obviously weak. The middle band support is very strong, continuously exerting downward pressure. This indicates a very strong bearish trend!
For future positioning, it’s best to follow the trend and go short!$BTC