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
Today, the coin price continued the previous correction trend, showing a series of downward tests. The low point also simultaneously broke through the 91,000 threshold. The current retracement pace of the price still has not ended, which indirectly indicates that the recent market behavior is still following the previous rhythm. The tug-of-war process is intensifying and continuing.
Looking at the four-hour chart of Bitcoin, after the price fell below the middle band, it again formed four consecutive bearish candles, testing the support at the lower band. The long lower shadows on the candlesticks indicate that there is no strong support below the 91,000 threshold near the lower band. Currently, the MACD histogram still shows a bearish dominance, and the Bollinger Bands are once again showing signs of opening. If the price breaks below this support level in the future, the coin price will further test downward.
In the short-term hourly chart, after a series of quick downward tests with consecutive bearish candles, the price touched the support below and has now shown some rebound and correction. The price continues to fluctuate around the 90,000 level, and the recent downward movement has absorbed most of the previous upward space. The current hourly MACD histogram shows a trend of weakening, so there is no short-term possibility of breaking below support levels.
The short-term trading strategy remains to look for rebounds to short, recommended as follows:
Bitcoin around 91,200 short, watch near 90,000; Altcoins around 3,150 short, watch near 3,000.