Bitcoin surged to 91810 and faced resistance, then pulled back. The recent high point resistance is clear!
The MA7 has turned downward and diverges from the MA30, with the price struggling around 91400 but unable to stay above the moving averages. Buying momentum visibly weakens. The formation of a bearish engulfing candle plus an expanding bearish body indicates that the selling pressure is accelerating.
Resistance is at 91800, and the support at 90800-91000 has sharply decreased in validity. If it falls below 91500, it will head straight for 89800-90000!
Trading Strategy: Confidently short in the 90800-91500 range, targeting 90000-85200!
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.
3 Likes
Reward
3
5
Repost
Share
Comment
0/400
YaoQianshuA
· 01-06 01:04
Now all my short positions are stuck on the mountain, pressed against the wall and rubbing on the ground. A buddy has already been stopped out twice in a row. Poor guy, all technical indicators show bearish, but in reality, it's all unilateral bullish. RSI keeps hitting new highs, probably can't come back.
View OriginalReply0
View More
GateUser-dabb07ff
· 01-05 20:54
Hold tight 💪
View OriginalReply0
YaoQianshuA
· 01-05 16:28
External forces are too strong. Ever since the U.S. president was arrested, the talk of American greatness and strength has caused Bitcoin to soar wildly, reaching 94,000 points tonight. It's terrifying.
View OriginalReply0
YaoQianshuA
· 01-05 05:10
This time it's quite unexpected, it actually surged to 93377, so awesome!
1.5 Weekly Morning Market Analysis
Bitcoin surged to 91810 and faced resistance, then pulled back. The recent high point resistance is clear!
The MA7 has turned downward and diverges from the MA30, with the price struggling around 91400 but unable to stay above the moving averages. Buying momentum visibly weakens. The formation of a bearish engulfing candle plus an expanding bearish body indicates that the selling pressure is accelerating.
Resistance is at 91800, and the support at 90800-91000 has sharply decreased in validity. If it falls below 91500, it will head straight for 89800-90000!
Trading Strategy: Confidently short in the 90800-91500 range, targeting 90000-85200!