Bitcoin broke below 88500 in the morning and quickly stopped the loss, with a small loss of 488 points. It's normal to have ups and downs in trading; the key is to maintain your mindset and control the risk. Don't let one trade affect your thinking; opportunities are still there, and the market will still provide. Keep a steady mindset and continue executing, and the future space will naturally recover today's pullback gradually.
First, let's look at the market structure of Bitcoin. On the four-hour level, the price failed to stabilize after rising above 90,000, showing a clear high and drop, with a large bearish candle directly falling back to the middle track, indicating that the selling pressure above remains heavy. It is currently in a pullback correction phase after the rise. After the price fell to around 87650, it showed signs of stopping the decline, with small real-body K-lines continuously closing below the middle track, indicating an overall weak oscillation structure, and the rebound strength is limited; the bulls have not regained control of the rhythm. Looking at the one-hour level, after a sharp decline in the early session, there was a pullback, but the rebound rhythm was slow, and the volume was insufficient. The K-line pattern is mainly characterized by weak rebounds and small bullish repairs, representing a technical recovery after the decline, rather than a trend reversal. Currently, the price is being pressed below the short-term moving averages, and upward attempts are easily hindered, with the market's focus still leaning bearish. In summary, Bitcoin is still in the pullback recovery phase in the short term, and there are no conditions to chase long; the overall mindset tends to be that rebounds are under pressure before going short.
Bitcoin 88300-88800 short, target around 87000;
Ethereum 2960-2990 short, target around 2900. #BTC #ETH $BTC
