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Market Review
Over the weekend, the market experienced narrow fluctuations, with bulls and bears stuck in a stalemate. Bitcoin dipped to the support level of 89,200 and quickly rebounded, with the highest rebound reaching around 91,500.
Technical Analysis
The 4-hour chart shows a stepwise upward trend, with bulls slightly favored, but the upward momentum is weakening, making a breakout more difficult.
Trading Strategy
Today, focus on shorting on rebounds
▶ Bitcoin entry zone: short positions around 92,000-93,000
▶ Target zone: around 89,000-88,000