Last night, Bitcoin surged to around 97,000 but faced resistance and retreated to the target level of 95,000. The bullish momentum has clearly begun to weaken, and the bearish force is currently dominant in the short term. However, the resistance above is strong, and the support below is equally solid, with no obvious bullish or bearish signals in the short term. Today, the overall suggestion is to short on rebounds, waiting patiently for the market to give clear signals.
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Analysis of Bitcoin on the morning of the 16th
Last night, Bitcoin surged to around 97,000 but faced resistance and retreated to the target level of 95,000. The bullish momentum has clearly begun to weaken, and the bearish force is currently dominant in the short term.
However, the resistance above is strong, and the support below is equally solid, with no obvious bullish or bearish signals in the short term.
Today, the overall suggestion is to short on rebounds, waiting patiently for the market to give clear signals.
Bitcoin suggestion:
Short near 96,500-97,500 on rebound
Target around 94,000-93,000
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