In the daily BTC cycle, the top structure has broken down, the adjustment wave is insufficient, and the downtrend has not ended. Currently, the upward movement is seen as a rebound, with the highest position for the rebound looking at 104,000. The trend must be perfect, and the daily structure has not yet completed its downward adjustment. Both long and short positions need to be cautious.

In the 4-hour cycle, a wedge convergence is forming. The downward wedge convergence is quite difficult to trade. Here, the only opportunity to participate is to try shorting at the upper edge of the wedge. If a top structure appears around 94,000 on a smaller timeframe, it can also be a chance to short.

Market analysis suggestions are for reference only. Actual market decisions change rapidly. Grasp the market direction and establish an investment belief system. Follow the public account:

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