Bitcoin has shown significant intraday pullback, but there is no need to be overly bearish, and pursuing short positions is inadvisable. Key resistance levels above focus on 92,400 and 94,700, while key support below focuses on the 89,000 level.
Technical analysis shows that after price retested 89,500, it quickly returned near the MA5/MA10 short-term moving averages, with moving averages showing signs of recovery. The MACD indicator displays initial bottom divergence below the zero line, with bearish momentum continuing to weaken, green bars gradually shortening, and a golden cross formation building momentum. The RSI indicator rebounded to 42 after testing a low of 38, approaching the oversold zone and triggering a rebound signal, with buying pressure steadily entering; volume at the price stabilization stage is moderate, with modest increase after stabilization, and market selling pressure has significantly diminished.
Trading Strategy
- Bitcoin: Establish long positions in the 90,200-90,700 range, targeting 92,200-92,700 area above - Ethereum: Establish long positions in the 3,050-3,080 range, targeting 3,200-3,230 area above$BTC $ETH #Gate广场创作者新春激励
Morning Analysis
Bitcoin has shown significant intraday pullback, but there is no need to be overly bearish, and pursuing short positions is inadvisable. Key resistance levels above focus on 92,400 and 94,700, while key support below focuses on the 89,000 level.
Technical analysis shows that after price retested 89,500, it quickly returned near the MA5/MA10 short-term moving averages, with moving averages showing signs of recovery. The MACD indicator displays initial bottom divergence below the zero line, with bearish momentum continuing to weaken, green bars gradually shortening, and a golden cross formation building momentum. The RSI indicator rebounded to 42 after testing a low of 38, approaching the oversold zone and triggering a rebound signal, with buying pressure steadily entering; volume at the price stabilization stage is moderate, with modest increase after stabilization, and market selling pressure has significantly diminished.
Trading Strategy
- Bitcoin: Establish long positions in the 90,200-90,700 range, targeting 92,200-92,700 area above
- Ethereum: Establish long positions in the 3,050-3,080 range, targeting 3,200-3,230 area above$BTC $ETH #Gate广场创作者新春激励