BTC Market Analysis: Key Resistance Levels Encountered, Short-term Correction Risks Increase
Yesterday Review: Key Resistance Zone Verified, Long and Short Battle Intensifies
Effective Resistance in the 95000-96000 Range: Yesterday, BTC reached a high of 94696 (Binance spot price), precisely testing the upper edge of the resistance zone before quickly retreating, forming a rapid drop on the 15-minute chart, followed by a rebound on the 30-minute chart.
Exhaustion of Rebound Momentum: A top divergence appeared in the 30-minute rebound, indicating weakening bullish strength, and short-term may further test the 1-hour support level.
Current Technical Pattern: High-level Stagnation, Beware of Correction
Daily Candlestick High-Level Doji: Yesterday closed with a small bullish candle, and trading volume shrank to 2/3 of the previous day, showing weak buying pressure and indicating signs of stagnation.
Key Support and Targets:
First Support (91660): Daily MA120 moving average support; if held, there is hope for another attack on the 99000-102000 range.
Strong Support (89000): If broken, the daily level will enter a consolidation phase, digesting previous rapid gains.
Key Price Ranges
Resistance Levels: 96188 (short-term) → 99700 (medium-term) → 102044 (previous high psychological level)
Support Levels: 91660 (daily MA120) → 88950 (structural support) → 86120 → 82880 (deep correction defense line)
Trading Strategy Tips
Short-term View on Correction: 30-minute top divergence + shrinking volume stagnation, focus on the test results of 91660 support.
Medium-term Layout Opportunities: If it stabilizes after retracing to the 89000-91660 range, it can be viewed as a buying window, with a target above 99000.
Risk Warning: Falling below 89000 may trigger deeper adjustments, need to be wary of cooling market sentiment.
Summary: BTC is facing a technical correction after encountering key resistance zones, viewing it as a correction in the short term, but the medium- to long-term upward trend remains intact, with a focus on observing the strength of the main capital's defense in the 91660-89000 range.
