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Simple review of yesterday's market: Bitcoin continued to consolidate during the white盘, with the price under pressure around the 90,000 level, leading to some pullback. However, as the lows were raised, the US session in the early morning finally saw the bulls regain control. Bitcoin temporarily recovered to around 91,000 but faced resistance, and the overall high point remains blocked at a key resistance level. The altcoins appeared stronger, with the market rising from 3,000 to around 3,150 before encountering resistance. The overall market reached a critical resistance and was blocked, and a certain retracement or correction is still expected in the future.
Looking at the current chart, the daily candle closed positively, breaking the previous narrow-range consolidation. Although the price surpassed the previous high, it still faces resistance at the key level of 91,000. The bullish momentum appears stronger, but the current volume is not enough to show a fully bullish breakout, and the Bollinger Bands' three lines are not yet fully open. The market is in a phase of testing higher levels and then correcting. The indicators are approaching overbought territory, and a further correction followed by a slow upward trend would be a healthy pattern.
From the four-hour chart, the price is in the overbought zone, with frequent long upper shadows on the candles, indicating that the smaller timeframes cannot support further bullish recovery. The second price level is again under pressure at a critical point. The upward move is not a quick process but a slow rise, which offers opportunities for adjustments. After this round of rally, focus on the middle band for correction, then re-enter based on market conditions.
Bitcoin can be shorted at 90,500-91,000, with a target around 88,500. Altcoins can be shorted at 3,130-3,150, with a target around 3,030. #BTC #ETH