Bitcoin Price Analysis -- Is a Great Shorting Opportunity Coming? Bitcoin has been performing well today, breaking through the $93,000 level this morning, with an intraday increase of nearly 2%. The overall market sentiment is optimistic, but it’s important to note that the long-term bearish pressure level of $100,000 has not yet been broken, and the market remains in a bearish pattern. This may be the reason for the pullback in the afternoon. The opportunity to open short positions may have arrived after the main force pushed prices higher. 💡 Short-term Technicals: Rebound Faces Resistance but Trend Remains Unchanged Despite the significant intraday gains, there are signs of resistance during the short-term rebound. Technical indicators show that the price is encountering some resistance during its upward movement. If a pullback occurs, $87,000 could be the first target. 💡 Potential Risks: Correction Pressure After Continuous Rises Although market sentiment is optimistic, caution is needed regarding the risk of a correction after consecutive gains. Historical data shows that Bitcoin often undergoes technical corrections after rapid increases. For example, in December, Bitcoin attempted to break through $90,000 but failed, followed by a sharp correction, with a monthly decline of over 22%, the worst performance since 2018. Currently, concerns about macroeconomic uncertainties (such as Federal Reserve policies) persist, which could trigger short-term volatility.
Trading Strategy: Short-term Short Positions, Focus on Key Target Levels You can short Bitcoin and Ethereum around $93,000, with a stop-loss above $94,000. If the market declines, pay attention to the key target level around $87,000.
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Bitcoin Price Analysis -- Is a Great Shorting Opportunity Coming?
Bitcoin has been performing well today, breaking through the $93,000 level this morning, with an intraday increase of nearly 2%. The overall market sentiment is optimistic, but it’s important to note that the long-term bearish pressure level of $100,000 has not yet been broken, and the market remains in a bearish pattern. This may be the reason for the pullback in the afternoon. The opportunity to open short positions may have arrived after the main force pushed prices higher.
💡 Short-term Technicals: Rebound Faces Resistance but Trend Remains Unchanged
Despite the significant intraday gains, there are signs of resistance during the short-term rebound. Technical indicators show that the price is encountering some resistance during its upward movement. If a pullback occurs, $87,000 could be the first target.
💡 Potential Risks: Correction Pressure After Continuous Rises
Although market sentiment is optimistic, caution is needed regarding the risk of a correction after consecutive gains. Historical data shows that Bitcoin often undergoes technical corrections after rapid increases. For example, in December, Bitcoin attempted to break through $90,000 but failed, followed by a sharp correction, with a monthly decline of over 22%, the worst performance since 2018. Currently, concerns about macroeconomic uncertainties (such as Federal Reserve policies) persist, which could trigger short-term volatility.
Trading Strategy: Short-term Short Positions, Focus on Key Target Levels
You can short Bitcoin and Ethereum around $93,000, with a stop-loss above $94,000. If the market declines, pay attention to the key target level around $87,000.