1.7 Afternoon Analysis

Recently, Bitcoin's price movement has been mainly characterized by narrow fluctuations, with a brief rebound in the morning around the 93000-92200 range, repeatedly consolidating. Overall volatility lacks continuity. Under this oscillation pattern, the bullish momentum has significantly weakened, and taking profits is the current core trading strategy.

From a technical perspective, the 4-hour Bollinger Bands are narrowing, with the price temporarily supported by the middle band but showing very weak rebound strength. The indicator ensemble is collectively turning downward, clearly signaling a short-term bearish bias; on the 1-hour chart, the MA7 and MA30 moving averages form a death cross, suppressing the price downward. After breaking below the key 93000 level, the rebound was weak, with the low point at 91262.94 refreshing recent lows, further confirming the bearish trend.

Trading suggestion: Focus on short positions during rebounds, establish shorts in the 93200-93700 range, targeting 91200-91700. If the level breaks, continue to look toward 90000. If the 91000 support holds, consider lightly adding short-term longs with strict stop-losses to prevent false breakouts within the range. The current market is clearly bearish; avoid blindly bottom-fishing and wait for the bearish momentum to exhaust before considering reversal trades.