From the 1-hour candlestick chart, Bitcoin recently reached the 88,881 level and then started to turn around. The long upper shadow is very obvious—indicating that selling pressure is indeed strong. The bullish momentum is also waning, and the market's weakness can be felt.
The price has risen too quickly, now significantly diverging from the MA7 and MA30, indicating that a technical correction is urgently needed. If support is to be found, the MA30 moving average will be very critical.
Looking at the details, the candlestick bodies are getting smaller, and the bearish candles are beginning to suppress the bullish candles. This combination suggests that the market is moving from stagnation toward a decline. Caution is still advised at this stage.
Bitcoin trading strategy: Consider short positions in the 89,000-89,500 range. If the price breaks below around 90,000, adding to positions can be considered. The target range is between 88,000 and 86,600. Currently, market volatility is high, so managing risk is the most important.
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MEVSandwichMaker
· 16h ago
Whenever a long shadow appears, I start to get nervous. I always wait for a correction like this, only to get pushed up and faceplant.
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airdrop_huntress
· 16h ago
If 88881 drops directly in this position, I knew something was going to happen.
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CoconutWaterBoy
· 16h ago
Another adjustment? The rise is indeed a bit rapid, it feels like it could break at any moment.
From the 1-hour candlestick chart, Bitcoin recently reached the 88,881 level and then started to turn around. The long upper shadow is very obvious—indicating that selling pressure is indeed strong. The bullish momentum is also waning, and the market's weakness can be felt.
The price has risen too quickly, now significantly diverging from the MA7 and MA30, indicating that a technical correction is urgently needed. If support is to be found, the MA30 moving average will be very critical.
Looking at the details, the candlestick bodies are getting smaller, and the bearish candles are beginning to suppress the bullish candles. This combination suggests that the market is moving from stagnation toward a decline. Caution is still advised at this stage.
Bitcoin trading strategy: Consider short positions in the 89,000-89,500 range. If the price breaks below around 90,000, adding to positions can be considered. The target range is between 88,000 and 86,600. Currently, market volatility is high, so managing risk is the most important.