January 4th Bitcoin Auntie Em's Market Outlook

Bitcoin rapidly surged from 89261 to 91586 within one hour, with continuous large bullish candles on the 1-hour chart, recording a short-term increase of over 2.6%. The bullish momentum was quickly released during the rapid rise, and the technical indicators have already shown an overbought condition, indicating an inherent need for a correction.

After spiking to 91586, the price quickly retreated to 91188, forming a strong resistance zone between 91500-91600. The bulls failed to achieve an effective breakout, instead showing a pullback after the surge, highlighting that selling pressure at this level has significantly increased, and the upward movement faces clear resistance signals.

Meanwhile, the current price's deviation from MA7 and MA30 has widened significantly, with the price far from the short-term moving averages, indicating a technical correction need to revert to the moving averages. The corresponding price is likely to decline.

If this large bullish candle at the close lacks sustained volume, it will form a divergence pattern of "rising price with shrinking volume," further confirming that bullish momentum is waning, which could trigger a bearish trend.

Bitcoin Auntie Em's Trading Suggestions: Short near 91800-92500 on rebound, targeting 90400-88500,

Auntie Em's Trading Suggestions: Short near 3190-3250 on rebound, targeting 3080-2900#加密行情预测