2026-01-02 01:20:45

Looking at the 1-hour chart trend, Bitcoin reached the 88881 level and then showed a clear long upper shadow, indicating that the selling pressure above is quite heavy and the bulls' strength has significantly weakened. From a technical perspective, this wave of rally was too rapid, and the price has deviated quite a bit from the MA7 and MA30 tracks, so a short-term correction is indeed needed. The MA30 line below has become the most important support level at present.

What’s more noteworthy is the change in candlestick patterns—the bodies are getting narrower, and the bearish candles are gradually engulfing the previous bullish candles, which is almost a clear signal of stagnation turning into a downtrend. The bears are now gradually taking control of the market rhythm.

From a trading perspective, it is recommended to watch the resistance around 89200-89700. If broken, related assets such as Ethereum and Binance Coin may also follow the correction. The recent target range can be considered as 89700-87200.

BTC1.18%

ETH1.22%

BNB0.05%

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WalletWhisperer

· 3h ago

the long wick at 88881 screams distribution... bears quietly collecting behavioral breadcrumbs while retail still chasing. that ma30 breakdown? pure pattern recognition territory, ngl. watch those whales clustering around 89200—they always know before price does.

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CryptoPhoenix

· 3h ago

Another day of being hammered, but this is the test the market gives us. Nirvana rebirth has never been a straight upward climb; believe that the bottom is just ahead.

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IronHeadMiner

· 3h ago

88881 that long upper shadow is indeed a bit fierce, this rally is moving too fast I feel --- Starting to swallow the bullish candlestick again, can it hold at 89200 this time? Not very optimistic --- The bears are gradually taking over, in the short term it depends on whether the MA30 can hold --- Almost at 89700, if it breaks the level, a follow-up sell-off is inevitable --- This round of correction is probably unavoidable, still depends on the support

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