Bitcoin Short-term Morning Analysis

Entry: Long near 59200
Target Range: Target (1) 59600–59900 (reduce position and take profit first)
Target (2) 60400–60800 (after breaking short-term resistance, hold remaining position for gains)
Stop Loss: 58700

II. Market Logic Interpretation
Trend Structure: After the market dipped to a low of 58115.01, it has recovered and rebounded. Selling pressure at lower levels has been fully released, and short-term downward momentum has faded. Price has retraced to the lower Bollinger Band support zone, with consistent buying support emerging below, and bears are temporarily unable to break new lows.
Support and Resistance: The short-term resistance at 59400 above has some selling pressure, but it is difficult to reverse the short-term bullish recovery pace. Indicators show a need for oversold recovery, and the short-term rebound has room to materialize.
Trading Approach: Today, rely on the support below, buy on dips, and trade the recovery rebound after oversold conditions.

III. Market Risk Warning
This rebound is only a temporary recovery after a significant drop. The larger cycle remains in a bearish trend. Short-term long positions must strictly carry a stop loss. If the market breaks below the previous low of 58115 again, the rebound structure will be invalid, so avoid deep losses. #BTC