Hello everyone, this early morning market movement is quite interesting—both Bitcoin and Ethereum are continuing to rise, but they started to turn around around 94,700, and now they are steady around 93,500.
Let's first look at the daily chart. Both assets are showing consecutive bullish candles moving upward, with each low higher than the previous one, and the highs are also breaking through. This is a typical oscillating upward trend. The buying volume below is quite solid, and the bulls are still in control.
Switching to the four-hour chart reveals more interesting details. The moving averages are laid out very neatly, with a standard bullish alignment, and the short-term averages are still spreading upward. But note—RSI has been in the overbought zone for a while, approaching 70. After an indicator becomes overbought, a rebound is inevitable; energy is accumulating.
On the hourly chart, the signals are even clearer. When the price surged and then pulled back, the trading volume was somewhat sluggish, indicating the bullish momentum is waning. MACD hasn't formed a death cross, but the volume is shrinking, which weakens the short-term bullish strength. The overall trend hasn't reversed, but the shrinking of this energy bar suggests—most likely, the market will enter a consolidation or correction phase.
Looking at liquidation data, $BTC at 95,000 and $ETH in the 3,250-3,280 range are filled with trapped and short-term profit-taking orders, creating significant resistance. The price has tested this level several times without breaking through.
In summary, this is a technical correction within a bullish trend. In the short term, consider shorting at resistance levels, but remember—this is just a normal retracement.
$BTC is shorted in batches around 93,800-94,300, with a target of 92,000. $ETH short entries are considered in the 3,230-3,250 range, with support levels at 3,120-3,160. Continue to observe $XRP as well.
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LayerZeroHero
· 01-06 06:49
Yes, this shrinking volume signal is indeed worth noting. It feels very similar to the liquidity exhaustion encountered during previous cross-chain bridge tests.
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SchroedingerMiner
· 01-06 06:41
Hey, the position at 93500 is indeed a bit stuck, the space isn't very big.
View OriginalReply0
GmGnSleeper
· 01-06 06:27
The 93500 level is indeed a bit risky, feeling like a pullback could happen at any moment.
Hello everyone, this early morning market movement is quite interesting—both Bitcoin and Ethereum are continuing to rise, but they started to turn around around 94,700, and now they are steady around 93,500.
Let's first look at the daily chart. Both assets are showing consecutive bullish candles moving upward, with each low higher than the previous one, and the highs are also breaking through. This is a typical oscillating upward trend. The buying volume below is quite solid, and the bulls are still in control.
Switching to the four-hour chart reveals more interesting details. The moving averages are laid out very neatly, with a standard bullish alignment, and the short-term averages are still spreading upward. But note—RSI has been in the overbought zone for a while, approaching 70. After an indicator becomes overbought, a rebound is inevitable; energy is accumulating.
On the hourly chart, the signals are even clearer. When the price surged and then pulled back, the trading volume was somewhat sluggish, indicating the bullish momentum is waning. MACD hasn't formed a death cross, but the volume is shrinking, which weakens the short-term bullish strength. The overall trend hasn't reversed, but the shrinking of this energy bar suggests—most likely, the market will enter a consolidation or correction phase.
Looking at liquidation data, $BTC at 95,000 and $ETH in the 3,250-3,280 range are filled with trapped and short-term profit-taking orders, creating significant resistance. The price has tested this level several times without breaking through.
In summary, this is a technical correction within a bullish trend. In the short term, consider shorting at resistance levels, but remember—this is just a normal retracement.
$BTC is shorted in batches around 93,800-94,300, with a target of 92,000. $ETH short entries are considered in the 3,230-3,250 range, with support levels at 3,120-3,160. Continue to observe $XRP as well.