Yesterday, it plummeted immediately after opening, and the intraday movement was only passive oscillation and recovery. After stopping at 91,800, it rebounded to around 93,400 but faced resistance again and fell back—an example of a weak, trap-like structure with no volume on rebounds and quick drops upon attempts to push higher.
From the market perspective, the daily chart shows six consecutive bearish candles, indicating a very weak one-sided pattern has formed. Today, we basically do not expect a decent rebound. The 4-hour structure is also weak, with no effective stabilization after the decline. The rebound volume continues to shrink, and it pulls up only to fall back immediately.
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1.20 Bitcoin Auntie's Morning Thoughts
Yesterday, it plummeted immediately after opening, and the intraday movement was only passive oscillation and recovery. After stopping at 91,800, it rebounded to around 93,400 but faced resistance again and fell back—an example of a weak, trap-like structure with no volume on rebounds and quick drops upon attempts to push higher.
From the market perspective, the daily chart shows six consecutive bearish candles, indicating a very weak one-sided pattern has formed. Today, we basically do not expect a decent rebound. The 4-hour structure is also weak, with no effective stabilization after the decline. The rebound volume continues to shrink, and it pulls up only to fall back immediately.