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This Sunday, the Bitcoin market is showing a continuous downward trend, which is worth following closely by investors.
From an hourly perspective, the Bitcoin trend shows further signs of weakness. The consecutive bearish candlesticks indicate a pessimistic market sentiment. Although there has been a large volume doji bullish candle, this may only be a temporary rebound, as the upward momentum has already been exhausted. Currently, the pattern of a secondary pullback has basically been established.
Looking at the four-hour level, we can clearly observe the characteristics of a stepwise decline. The price shows a state of oscillation and accumulation during the downward process, while the oscillation center continues to move downwards, indicating that there may be further room for decline in the future.
Based on the current market situation, investment strategy advice is to remain cautious. For investors willing to trade, it may be considered to short at a high near the range of $117,600 to $118,000, with a temporary target price set around $116,600.
However, we must emphasize that the cryptocurrency market is highly volatile and carries significant risks. Investors should thoroughly assess their risk tolerance and conduct comprehensive market analysis before making any decisions. At the same time, it is important to closely follow changes in the global economic situation and regulatory policies, as these factors may have a substantial impact on Bitcoin prices.
Overall, the current Bitcoin market is in a volatile downward phase and may face further adjustments in the short term. Investors should remain vigilant, rationally view market fluctuations, and adjust their investment strategies accordingly.