Monday Morning Review: Rebound is a Selling Opportunity

Over the weekend, after the white session continued with narrow fluctuations, Bitcoin broke below the key level of 90,000 US dollars last night, then continued to decline with oscillations, officially entering a technical correction cycle. Currently, the price is weakly hovering around the 88,000 US dollars mark.

On the daily chart, there have been three consecutive days of red candles, continuously testing the support of the lower Bollinger Band. Although a Doji pattern appeared during this period, the bearish trend remains solid, and the overall weak pressure pattern has not undergone a substantial change.

In the four-hour chart, after a brief stabilization at the middle Bollinger Band, the rebound strength is weak. The four consecutive bearish candles further accelerate the decline, with the current price closely following the lower band and continuing downward. The moving averages are arranged in a standard bearish configuration, and all technical indicators are weakening simultaneously, indicating a risk of further decline in the short term.

Bitcoin suggestion: Short positions in the 88,500-89,000 zone, add to positions at 89,500, with targets down to 87,500-86,000.

Secondary Bitcoin suggestion: Short positions in the 3,090-3,120 zone, add at 3,150, with targets down to 3,050-3,000-2,980.