BTC firmly holds the 90,000 level, a new round of defense begins. Is a bullish reversal possible or just a false signal to lure traders?



Today, BTC is bearish, with resistance at 896 still present. Tomorrow's focus should be on the Federal Reserve's interest rate decision and monetary policy.

Yesterday, we suggested going long around 873. In the evening, the US stock market opened, and Bitcoin dipped to around 872, successfully setting up a long position. A breakout above 896 is needed to target 90,000. 896 is a clear resistance level, with the upward move stalling at around 895. Overall, the 873-895 range spans 2,300 points, and achieving 1,500-1,800 points is not a problem.

Currently, the daily chart has formed a small double top. Will the market continue to surge toward 90,000? It may spike upward, then consolidate above 90,000 before starting to decline. Watch whether the 896 resistance can be broken; if it breaks, consider shorting above 90,000. If it fails to break, then go short directly.

BTC trading suggestion: short at 905-909, stop at 917, target 879, break below 865.
BTC0,93%
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1.27 Bitcoin once again tested below 87. Is the main force fleeing?

The price is getting lower and lower, which must have tempted many people to enter the market. The lower it goes, the more people buy in; the main force is fleeing, while retail investors keep buying. This is the essence.

Yesterday, gold and US stocks continued to break new highs, while the crypto market was bleeding heavily, lacking liquidity? After careful consideration, I still retreated yesterday.

The first wave of pullback to around 875, then rose to around 888. It is very important that the price holds above 887-891 resistance level; only after breaking through can the bulls continue.

The second wave of pullback to around 873, then entered long positions at the Asian open, reaching a high of around 889, still not breaking the resistance.

The US is about to face a shutdown plan. A government shutdown could bring some uncertainties that might intensify the market. A US government shutdown would restrict the implementation of a series of Trump’s executive orders. In other words, a US government shutdown’s impact on the global economy is certain, but if it doesn’t shut down, Trump’s antics and geopolitical maneuvers will bring even greater uncertainty. Therefore, a shutdown could actually limit Trump’s hype and escalation of these events.

BTC trading suggestion: 873-877, defend at 800 points, target 896, break through to see 906$BTC #加密市场观察
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