Recently, Bitcoin's trend has been quite interesting. The rapid surge on January 18th was indeed fierce, pushing directly to an intraday high of 95,600, but then it started to weaken—rebound was limited, and trading volume couldn't keep up. Currently, the price is oscillating back and forth between the upper and middle bands of the Bollinger Bands.
From a market perspective, the bullish momentum has clearly weakened. More notably, the KDJ indicator has entered the overbought zone, which usually indicates that short-term correction pressure is rapidly building up. As you know, this combination of "resistance at high levels + declining volume" often signals a potential for a wave of pullback.
From a trading standpoint, taking a small short position near resistance levels might be a good option—mainly aiming to capitalize on a short-term correction. Specifically, on Sunday evening, consider shorting within the 95400-95700 range, then watch for support around 94000. This is a relatively reasonable wave target. Of course, all of this is based on technical analysis, and actual trading should be adjusted according to your risk tolerance.
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WhaleInTraining
· 6h ago
Starting to weaken at 95,600? I knew it. This pattern of rising sharply and then falling back is old news. When the KDJ is overbought and there's no selling, what are we waiting for?
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HalfPositionRunner
· 6h ago
I've long sensed the decline in volume, and this wave of 95600 indeed feels like a false breakout.
KDJ is overbought but still not selling, do we have to wait for a correction? I really don't understand this move.
And what wave target is 94000, I'm hearing it so much my ears are getting calloused. Let's just focus on surviving first.
This market is a bit frustrating now; the repeated fluctuations really test the patience.
Shorting is okay, but I don't dare to go all-in; it's too aggressive and easily backfires.
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GhostAddressHunter
· 7h ago
Is it the same old story again, that KDJ overbought means a crash? I think, that fierce rally to 95600 wasn't for nothing. The declining volume might just be a consolidation phase. Don't blame the technicals if your short positions get wiped out later.
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SchrodingersFOMO
· 7h ago
If it can't break above 95,600, this move feels a bit weak. The lack of volume really makes it tough.
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TokenomicsTherapist
· 7h ago
The decline in volume indeed warrants caution. Is 95,600 the ceiling? It feels like a break below isn't far off.
Recently, Bitcoin's trend has been quite interesting. The rapid surge on January 18th was indeed fierce, pushing directly to an intraday high of 95,600, but then it started to weaken—rebound was limited, and trading volume couldn't keep up. Currently, the price is oscillating back and forth between the upper and middle bands of the Bollinger Bands.
From a market perspective, the bullish momentum has clearly weakened. More notably, the KDJ indicator has entered the overbought zone, which usually indicates that short-term correction pressure is rapidly building up. As you know, this combination of "resistance at high levels + declining volume" often signals a potential for a wave of pullback.
From a trading standpoint, taking a small short position near resistance levels might be a good option—mainly aiming to capitalize on a short-term correction. Specifically, on Sunday evening, consider shorting within the 95400-95700 range, then watch for support around 94000. This is a relatively reasonable wave target. Of course, all of this is based on technical analysis, and actual trading should be adjusted according to your risk tolerance.