$BTC Short-term Market Analysis (Current Price: 92895)
Market Overview:
Recently, the BTC market has shown a high-level fluctuation followed by a pullback, with downward pressure continuing to exist in the short term. The bearish signals in the candlestick chart (such as the bottom formation being covered by three black crows) are quite evident, and the short-term moving averages' trend is downward, indicating that the price may continue to explore lower levels. The key support level is around 91000; if it is effectively broken, it may accelerate the decline.
Technical Analysis:
Four-hour Level: The price is fluctuating downward, with volume shrinking, and the moving average system reversing (MA5 crossing below MA20), with bearish momentum dominating, indicating a continuation of the short-term pullback trend.
One-hour Level: There is pressure at high levels, with bearish forces continuously being released, and the moving averages turning downward (MA5, MA10 declining), with significant pullback demand and insufficient rebound momentum.
Key Levels:
Support Level: 91000 (psychological barrier, recent low), secondary support 88000-89000 (previous low or Fibonacci 0.618 retracement level).
Resistance Level: 94000-95000 (short-term moving average pressure level, recent high), secondary resistance 97000 (psychological barrier).
Short-term Outlook:
If the 91000 support level is lost, BTC may further explore the range of 88000-89000; if it stabilizes at 91000 and breaks through the 94000-95000 resistance, a brief rebound to 97000 can be expected. Close attention should be paid to changes in volume and fluctuations in market sentiment, and vigilance is needed regarding key level gains and losses.
