Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
1.6 Morning Bitcoin Strategy | Bullish Momentum Fading, Patience for Pullback
Overnight Bitcoin surged again, reaching a high of around 94,700. The slow upward trend has indeed put some pressure on the bears. However, it’s important to note that this rally is not a one-sided explosion but a typical gradual rise from high levels. Currently, the upward momentum has clearly slowed, and chasing longs at these levels is not advisable.
From a technical perspective, although the bulls are strong, they have not effectively opened up more space above. The 4-hour price is oscillating along the upper Bollinger Band, quickly pulled back after a dip, appearing strong but actually representing a slow squeeze. If the price cannot break through this range, chasing the rally offers very low risk-reward and may lead to a correction.
Overall approach: Do not chase longs; wait for a pullback to short.
Trading suggestions:
BTC: Short in the 94,000–94,500 range, target 92,000–91,000
ETH: Short in the 3,240–3,260 range, target 3,150–3,100
One sentence summary:
Don’t chase the top; wait for a pullback to find opportunities. #加密市场开年反弹 #ETH走势分析 $BTC