Bitcoin's recent trend remains quite promising. Yesterday, it first experienced a round of weak correction, but by evening, the bulls suddenly gained momentum, and the price rebounded sharply to around $91,600. This upward push was indeed quite strong.



From the 4-hour chart, the price showed a brief pullback during its ascent, followed by a quick stabilization, with consecutive bullish candles, indicating a clear buying capacity among the bulls. This suggests that the market's confidence at the current price level is still relatively high.

Currently, Bitcoin is in a range-bound consolidation phase, with both bulls and bears still vying for control. However, from the trend perspective, the downward adjustment space is actually limited, and the short-term upward trend led by the bulls has not changed, laying a foundation for subsequent upward movement.

If you are optimistic about the future market, you might consider establishing long positions near the two key support levels at 90,000 or 89,200. These positions are good entry points with relatively manageable risk. The current accumulation phase is critical, and patiently waiting for confirmation signals will be more reliable.
BTC-0.39%
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
  • 5
  • Repost
  • Share
Comment
0/400
JustHereForMemesvip
· 01-09 05:53
The rebound at 91,600 was indeed strong, but I still need to see if 89,200 can really hold before I believe it.
View OriginalReply0
ser_we_are_ngmivip
· 01-09 05:51
The rebound at 91,600 was indeed quite strong, but I still want to wait until it breaks 92,000 before getting in.
View OriginalReply0
LazyDevMinervip
· 01-09 05:47
The rebound strength of 91,600 is quite strong, but I'll wait a bit longer before jumping in, worried about chasing too high.
View OriginalReply0
ConsensusDissentervip
· 01-09 05:43
91600, this rebound is indeed fierce, but I'll wait and see. I feel the bulls aren't that determined.
View OriginalReply0
rekt_but_vibingvip
· 01-09 05:34
The 91,600 rebound is indeed fierce. I just want to see if it can push higher.
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)