Friday Market Analysis: Consolidation After Rise and Fall, The 90,000 Milestone Faces Pressure Test
From the new high of 94,415 reached on the evening of January 6th until now, Bitcoin has experienced three days of gradual pullback. The current price is around 91,220, representing a pullback of approximately 3.5% from the peak. This magnitude of adjustment is completely normal profit-taking, and the bullish fundamental structure remains intact.
The most critical area right now is the 90,000-91,000 support zone. You need to understand that before 90,000 was a "ceiling," and after breaking through it should logically become the most solid "floor." Friday's time point is somewhat delicate—the Asian session has shown relative weakness. If the European session this afternoon fails to find momentum for a counter-attack, when the US trading session arrives, major capital funds will likely probe downward to test how deep the actual buying support at the 90,000 round number really is.
**Short-term Support Levels (1-3 days)**
90,800 is the immediate daily support and also represents the lower band of oscillation that has appeared repeatedly in the past 12 hours. This is the last line of defense for short-term longs. Once broken, it should directly test 90,000.
90,000-90,200 is the core iron bottom, the absolute watershed for this entire market move. As long as there's no effective break below the 90,000 level, the logic of the entire bull market's main upwave will not change.
Further down is the 89,500 fakeout line support.
**Medium-term Perspective (1-2 week swing)**
88,000 is the top of the oscillation range from recent weeks with strong structural support. 86,000 is the trend dividing line between bulls and bears, and 84,500 is the large-scale structural bottom.
**Short-term Resistance Levels (1-3 days)**
91,800-92,000 is the immediate resistance. This is yesterday's support that has become today's resistance (typical top-bottom conversion). If the bounce fails to overcome this level, the short-term remains weak.
92,800 is the medium-term pressure for short-term rebounds, and 93,500 is a strong resistance zone.
**How to Trade Reasonably**
From the current position of 91,220, the market is in the "final probe before the support level" stage.
From the bullish perspective, 90,000 is strong support on the larger timeframe with quite decent risk-reward ratio. Although the short-term is falling, establishing longs based on the 90,000 level conforms to the trading principle of "following the major trend, trading against the minor trend."
Shorting also represents an option, but pay attention to risk. The short-term trend is indeed downward, and rebounds appear weak, but the problem is 90,000 is right in front of us—the downside space is actually limited. Chasing shorts is easily caught off guard by support level rebounds, making risk and reward not well-matched.
Friday Market Analysis: Consolidation After Rise and Fall, The 90,000 Milestone Faces Pressure Test
From the new high of 94,415 reached on the evening of January 6th until now, Bitcoin has experienced three days of gradual pullback. The current price is around 91,220, representing a pullback of approximately 3.5% from the peak. This magnitude of adjustment is completely normal profit-taking, and the bullish fundamental structure remains intact.
The most critical area right now is the 90,000-91,000 support zone. You need to understand that before 90,000 was a "ceiling," and after breaking through it should logically become the most solid "floor." Friday's time point is somewhat delicate—the Asian session has shown relative weakness. If the European session this afternoon fails to find momentum for a counter-attack, when the US trading session arrives, major capital funds will likely probe downward to test how deep the actual buying support at the 90,000 round number really is.
**Short-term Support Levels (1-3 days)**
90,800 is the immediate daily support and also represents the lower band of oscillation that has appeared repeatedly in the past 12 hours. This is the last line of defense for short-term longs. Once broken, it should directly test 90,000.
90,000-90,200 is the core iron bottom, the absolute watershed for this entire market move. As long as there's no effective break below the 90,000 level, the logic of the entire bull market's main upwave will not change.
Further down is the 89,500 fakeout line support.
**Medium-term Perspective (1-2 week swing)**
88,000 is the top of the oscillation range from recent weeks with strong structural support. 86,000 is the trend dividing line between bulls and bears, and 84,500 is the large-scale structural bottom.
**Short-term Resistance Levels (1-3 days)**
91,800-92,000 is the immediate resistance. This is yesterday's support that has become today's resistance (typical top-bottom conversion). If the bounce fails to overcome this level, the short-term remains weak.
92,800 is the medium-term pressure for short-term rebounds, and 93,500 is a strong resistance zone.
**How to Trade Reasonably**
From the current position of 91,220, the market is in the "final probe before the support level" stage.
From the bullish perspective, 90,000 is strong support on the larger timeframe with quite decent risk-reward ratio. Although the short-term is falling, establishing longs based on the 90,000 level conforms to the trading principle of "following the major trend, trading against the minor trend."
Shorting also represents an option, but pay attention to risk. The short-term trend is indeed downward, and rebounds appear weak, but the problem is 90,000 is right in front of us—the downside space is actually limited. Chasing shorts is easily caught off guard by support level rebounds, making risk and reward not well-matched.