Last Friday's market was truly tumultuous—starting from early morning, it maintained an upward momentum, with the daytime trading steadily increasing. In the evening, the price surged toward the 90,000 level but faced resistance and pulled back. Subsequently, the US stock market opened high but closed low, and the market regained its momentum, briefly reaching a high of 90,945. After this rally, the market consolidated around a thousand points, currently testing the 89,800 level repeatedly. Ethereum followed the overall trend, falling from 3,149 back to around 3,100, also in a range-bound oscillation.
From a technical perspective, Bitcoin's daily chart is in an interesting pattern—price broke out from the Bollinger middle band resistance zone and has now stabilized above the middle band. After breaking above the upper band, it pulled back, and with the Bollinger bands tightening significantly, this often indicates an imminent trend reversal.
The four-hour chart shows more detailed behavior: after a surge, the price consolidated near the upper Bollinger band, forming a high-level consolidation. The doji candlestick completed a short-term correction but without a deep retracement, indicating that the selling pressure is weakening and the bulls are gaining control. The bullish logic is gradually being established, and market sentiment is clearly leaning bullish.
The hourly chart shows a clear upward channel extension: the recent strong rally effectively broke through key resistance and stabilized above the previous resistance zone, opening the door for further upward movement. The next target is likely to be the upper boundary of the channel, aiming for the next significant area.
**Trading Strategy**: The best time to go long is during a pullback to support levels, following the oscillating upward trend for swing trading. Going with the trend is key.
**Price References**: $BTC can consider going long around 89,000-89,500, targeting 92,000 $ETH can be positioned around 3,100-3,120, aiming for 3,250
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FudVaccinator
· 22h ago
9w resistance level is just a paper tiger; repeated probing shows nothing has been confirmed
How long has the Bollinger squeeze been talked about? Still no breakout
Bull control? Wake up, brother. Try breaking below 89800 again
What about those who bought the dip at 3100? Are they still waiting for 3250 now?
It's interesting that every time someone says it's interesting, then nothing happens
Before 92000, there will be more rounds of bloodshed. Are you ready?
Entering long at 89500? Better wait for a break below 89k, don’t be so hasty
After this rally, the market is consolidating, sounds like it's just dragging time
Weakening short-seller pressure = the market maker is absorbing the orders, old trick
When prices rise, the technicals are all positive; when they fall, it's just a pullback or shakeout, that's really how it is
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LayerZeroJunkie
· 01-05 18:25
Bollinger Bands tightening is a signal of a trend reversal. This wave still depends on whether it can hold above 89,800.
Wait, are the bulls really that stable? It feels like after the evening rally, there's hesitation again.
The 92,000 target seems a bit uncertain; let's see if it can break 91,000 first.
ETH's follow-up is too obvious; it still depends on BTC's direction.
This wave of consolidation is quite critical; a pullback to the support level is indeed a good opportunity to enter.
Honestly, entering long positions now is a bit risky; I want to wait for a further dip.
Bollinger Band squeeze... it really feels like a big move is coming.
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blocksnark
· 01-02 22:20
The Bollinger Bands narrowing signal, you need to hold the 89,500 line, and see if it breaks later.
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RebaseVictim
· 01-02 22:19
It's the same Bollinger Bands routine again. Every time, they say a trend reversal is imminent. But what happened? Anyway, I'm not entering at the 89,500 level. I'll wait for it to drop another two thousand points before considering.
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CommunityJanitor
· 01-02 22:09
Is it better to buy in at 89,000 or wait for a pullback? I think the bulls are indeed getting a bit more stable.
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LiquidationWizard
· 01-02 22:07
Bollinger Bands tightening signals a trend reversal. The bullish sentiment has really picked up this time.
I've been waiting for this level all along, directly ambushing at 89,000-89,500.
The technical pattern is indeed beautiful; a short-term pullback confirms it, no need to overthink.
Breaking the 90,000 key level is the real sign of a true rally.
ETH is also doing well, holding steady at 3100.
View OriginalReply0
FOMOSapien
· 01-02 22:06
Another wave of market trend is coming again. This time, it really feels a bit different.
Last Friday's market was truly tumultuous—starting from early morning, it maintained an upward momentum, with the daytime trading steadily increasing. In the evening, the price surged toward the 90,000 level but faced resistance and pulled back. Subsequently, the US stock market opened high but closed low, and the market regained its momentum, briefly reaching a high of 90,945. After this rally, the market consolidated around a thousand points, currently testing the 89,800 level repeatedly. Ethereum followed the overall trend, falling from 3,149 back to around 3,100, also in a range-bound oscillation.
From a technical perspective, Bitcoin's daily chart is in an interesting pattern—price broke out from the Bollinger middle band resistance zone and has now stabilized above the middle band. After breaking above the upper band, it pulled back, and with the Bollinger bands tightening significantly, this often indicates an imminent trend reversal.
The four-hour chart shows more detailed behavior: after a surge, the price consolidated near the upper Bollinger band, forming a high-level consolidation. The doji candlestick completed a short-term correction but without a deep retracement, indicating that the selling pressure is weakening and the bulls are gaining control. The bullish logic is gradually being established, and market sentiment is clearly leaning bullish.
The hourly chart shows a clear upward channel extension: the recent strong rally effectively broke through key resistance and stabilized above the previous resistance zone, opening the door for further upward movement. The next target is likely to be the upper boundary of the channel, aiming for the next significant area.
**Trading Strategy**: The best time to go long is during a pullback to support levels, following the oscillating upward trend for swing trading. Going with the trend is key.
**Price References**:
$BTC can consider going long around 89,000-89,500, targeting 92,000
$ETH can be positioned around 3,100-3,120, aiming for 3,250