The bearish tone for Bitcoin has been set, and a rebound is unlikely to change the downward trend
This week's market continued the decline from last week, with prices experiencing technical rebounds after oscillating downward, but overall still remaining in a low-range consolidation zone. From a weekly chart perspective, the previous resistance and subsequent pullback are still in the digestion phase, with trading volume gradually contracting. The current rebound is more of a corrective fluctuation rather than a trend reversal.
Looking ahead to the next week, the overall tone remains weak, and the downward structure has not been broken. Short-term rebounds are unlikely to reverse the main trend, and blindly bottom-fishing carries high risks. A more reasonable approach is to follow the trend, look for opportunities during rebounds, and steadily capitalize on the space created by oscillating declines.
Reference ideas: - Pay attention to performance around 90,000; - 91,000 as an additional observation zone, with a defense focus on 91,800; - The lower target is around 87,200; if effectively broken downward, watch for further decline to the 84,400 area.
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The bearish tone for Bitcoin has been set, and a rebound is unlikely to change the downward trend
This week's market continued the decline from last week, with prices experiencing technical rebounds after oscillating downward, but overall still remaining in a low-range consolidation zone. From a weekly chart perspective, the previous resistance and subsequent pullback are still in the digestion phase, with trading volume gradually contracting. The current rebound is more of a corrective fluctuation rather than a trend reversal.
Looking ahead to the next week, the overall tone remains weak, and the downward structure has not been broken. Short-term rebounds are unlikely to reverse the main trend, and blindly bottom-fishing carries high risks. A more reasonable approach is to follow the trend, look for opportunities during rebounds, and steadily capitalize on the space created by oscillating declines.
Reference ideas:
- Pay attention to performance around 90,000;
- 91,000 as an additional observation zone, with a defense focus on 91,800;
- The lower target is around 87,200; if effectively broken downward, watch for further decline to the 84,400 area.
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