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The early trading session sees Bitcoin stuck in a weak rebound. It rebounded from the overnight low of 89,200 to the current range of 91,200-91,400, but selling pressure above has clearly increased while support below is gradually weakening. Overall, the bulls lack sufficient momentum to defend the market.
The key issue is that non-farm payroll data will be released soon. Before such major events, the market often contracts positions, and liquidity may quickly dry up. Holding onto positions blindly at this time carries significant risk.
The trading strategy remains focused on shorting during rebounds, with only testing strong support levels at lower prices. Specifically, the 91,800-92,200 range is an ideal entry point for short positions, which can be entered in batches with strict risk control. Before the non-farm data release, it’s crucial to keep positions light and exit quickly—don’t be greedy waiting for higher gains.