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Bitcoin is hovering near the middle band of the Bollinger Bands, and after falling to the lower band, it attempted to rebound but lacked the strength, with the bulls completely out of energy. Technically, every time the price tries to touch the upper band, it gets hammered down, indicating strong selling pressure. This is not a genuine rebound, but rather a trap to lure in long positions. The overall trend remains downward, and that will not change.
The upcoming trading logic is very clear: as long as the price rebounds to the 91,000-91,500 range, it is a good opportunity to short. The target for a breakdown is in the 91,000-89,500 zone, which is the real support level. The bears are not done yet, so don’t be fooled by any rebounds.