$93,884.1 is below the 7-period moving average (MA7 = $94,364.6), the 25-period MA (MA25 = $96,041.6), and significantly below the 99-period MA (MA99 = $99,886.4).

The price recently hit a local low of $92,272.6 and is attempting a small upward move, but it’s still struggling to gain momentum.

This indicates a downtrend, though a potential reversal could occur if the price breaks above MA7 and MA25.

The MA7 (yellow) is below the MA25 (pink) and MA99 (purple), which confirms that the current trend is bearish.

For a #MarketRebound , the price needs to consistently close above the MA7 first, signaling a short-term recovery.

The MACD histogram shows bearish momentum (red bars), though the bars appear to be shrinking, suggesting the bearish momentum is weakening.

The DIF (-1,461.9) is still below the DEA (-1,471.3), which keeps the MACD line in bearish territory, but the difference is narrowing. A bullish crossover could confirm the start of a rebound.

Volume appears to be increasing during the recent price drop, indicating strong selling pressure.

For a #MarketRebound , you would need to see green volume bars indicating a surge of buyers entering the market.

The local low at $92,272.6 is a critical level. If this breaks, the next support could be around $91,467.8.

Immediate resistance is at $94,364.6 (MA7), followed by $96,041.6 (MA25).

The market is currently bearish, but there are early signs of a potential reversal:

The MACD is showing weakening bearish momentum.

The price bounced off the support at $92,272.6, indicating buyers are defending this level.

For a #MarketRebound :

1. The price needs to close above $94,364.6 (MA7) on the 4-hour chart.

2. MACD should show a bullish crossover (DIF > DEA).

3. Increasing buying volume (green bars) is essential to sustain upward momentum.

If these conditions aren't met, the downtrend is likely to continue. Keep monitoring support at $92,272.6—if it breaks, a further drop is probable.