Bitcoin is now hanging at the position of 94100, and it took a dive again at 3:40 AM. Didn't a bunch of people say it was going to rise yesterday?

To be honest, the judgment yesterday was already very clear – it can't rise much higher, nor can it drop too deep, just oscillating back and forth within this range. And what happened? As soon as it broke 94000, someone started shorting, and I really can't understand this operation. Hesitating when it should be time to enter, and charging forward when it shouldn't be, isn't this just a textbook example of chasing highs and cutting losses?

Looking at the daily chart, the highest reached 96600 and the lowest dropped to 93670. The 0.618 support line is near 94450, and the moving average system is still trending downwards, with EMA15 pressed down to 101000. The bearish pattern has not dissipated yet. MACD continues to shrink, and the Bollinger Bands are opening downwards, with the lower support dropping to 93500. At this position, it is already severely oversold. Once the next wave of correction is in place, consider trying a small long position.

The four-hour level is even more interesting. The 0.618 line has been horizontal for a long time, and the support is quite obvious. If it can rebound below 94000, you can follow with a small position, placing the stop loss at 93000; if it breaks, just admit defeat and leave—trading always involves trial and error, right? Just like running a factory, there are always losses; the key positions are worth a gamble. The Bollinger Bands are starting to narrow now, with the lower band at 93000, the upper band at the round number of 100000, and the middle band at 96500. It is highly likely to return to the vicinity of the middle band and continue to oscillate, maintaining the triangular convergence. For friends entering the market in the short term, you should consider taking profits near the middle band.

Here are a few reference ranges for operation:
If you want to go long, you can try the range of 94000-94500, set the stop loss at 93300 (500 points loss), and target 96000-97000. If it breaks through, you can also see 97500-98000.
If you want to short, wait until 98500-99000, set the stop loss at 99500 (which is also 500 points), and target down to 97000-98000, extending to 96000-96500 if it breaks.

But remember, the market changes rapidly, and these are just ideas for reference. How to operate specifically still depends on real-time data, and the risk must be controlled by yourself.