Yesterday, Bitcoin rebounded at around 92,000 but then started to weaken. It is now fluctuating around 90,500, but the bulls' momentum is clearly insufficient. From a technical perspective, breaking below the short-term upward trend line is a bad signal, and the 5/10-day moving averages are also pressing down. The MACD has formed a death cross with increasing green bars, and the RSI has dropped to 42, entering the weak zone. On the 4-hour chart, the price bounced after touching the lower Bollinger Band at 89,262 USD, but the rebound volume is somewhat weak. The Bollinger Bands are tightening, with the upper moving averages densely stacked, making it likely that this rebound will not last.



From a trading perspective, Bitcoin can be considered for short positions in the 91,500-92,000 range, targeting the 90,000-89,000 zone. SOL's situation is similar; consider shorting on rallies between 138-142, and look for support around 135-130. Of course, these are just ideas based on the current technical analysis, and we should closely monitor the impact of major economic indicators like the US Non-Farm Payrolls data.
BTC0.07%
SOL0.08%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 6
  • Repost
  • Share
Comment
0/400
ser_aped.ethvip
· 01-10 02:53
Really, this bullish rebound is just exhaustion, and the volume is a mess. Try shorting at 91500? Feels like 89000 is right in front of us. RSI has dropped to 42, definitely entering the weak zone, and a decline is inevitable. Wait for the non-farm payroll data; at that time, it could either skyrocket or crash, everyone knows that. SOL also looks like this; short at 138 is not a loss.
View OriginalReply0
AirdropFatiguevip
· 01-10 02:49
Is this all for the 92,000 rebound? The volume is so weak, and after breaking the trend line, you still want to go up? Dream on.
View OriginalReply0
BlockchainFoodievip
· 01-10 02:45
honestly the bounce off 89k feels like day-old bread tbh... all that volume just doesn't pass the proof-of-freshness test, you know? reminds me of a poorly seasoned recipe where the ingredients looked good on paper but taste flat irl. short setup at 91.5-92k sounds like the right plating for this one
Reply0
rugged_againvip
· 01-10 02:41
Yeah, the bulls are really exhausted. This rebound feels pretty fake. Are we going to get hammered down again? Looking at that short position around 91500-92000, I feel a bit tempted.
View OriginalReply0
HodlKumamonvip
· 01-10 02:39
Xiongxiong just calculated the MACD death cross frequency, and the probability of a bearish trend is indeed dominant... but we still need to be cautious before the non-farm payrolls.
View OriginalReply0
HodlOrRegretvip
· 01-10 02:39
Ah, it's the same old story of the moving average death cross. I'm getting tired of it. The rebound volume is weak, the Bollinger bands are tightening, and the bearish strategy isn't wrong. Let's see what Non-Farm Payrolls will do. I'm a bit hesitant to short at 92,000; I have a feeling I might get washed out easily. Wait, are we shorting SOL at 138 on the rebound? Didn't they say a few days ago it was going to break out? Now they're changing their tune? The lower Bollinger band at 89,262—being so specific feels like just drawing a pie in the sky. When the bulls are weak, that's often the most dangerous time. Don't get smashed through and still keep shouting short.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)