1.7 Morning Analysis
Recently, Bitcoin surged to 94,400 then quickly fell back to 91,200. Currently, it is rebounding around 93,500, but the 1-hour chart shows strong resistance in the 94,500-94,800 range, with multiple rejections without breaking through. Technically, the MA7 and MA30 moving averages are forming a death cross downward, indicating insufficient rebound momentum and divergence between volume and price. Coupled with Bitcoin being at a high level and profit-taking sentiment rising, short-term downward momentum is significant.
Trading suggestion: Consider short positions on rallies
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