Bitcoin has been quite strong these days, with consecutive large bullish candles on the daily chart accompanied by increasing volume, clearly showing the bulls' intent. The momentum continues to build based on recent daily K-line performance, and there is no ambiguity in the short-term trend.
Switching to the four-hour chart, four consecutive bullish candles are pushing upward so decisively—price remains close to the upper band of the Bollinger Bands, and the volume indicator shows that bullish funds are still pouring in steadily. There are no obvious signs of reversal. In the short term, the bulls still hold a relatively stable control.
However, at the one-hour level, caution is needed. A classic pattern of two bullish candles with one bearish candle in between has appeared, indicating that the bulls are gradually gaining control of the rhythm. But there’s a development—price is now consolidating in a narrow range near the high of around 93,950, RSI has entered overbought territory, and the KDJ is starting to show signs of a dead cross. Plus, the price is approaching the technical ceiling of the upper Bollinger Band, which hints that a pause might be needed. Honestly, the probability of a strong breakout is not very high; instead, one should watch out for short-term correction pressure.
From this perspective, short-term selling on rallies might be a viable strategy. Consider shorting $BTC in the 94,800-95,300 range with targets around 93,300-92,600; for $ETH, try shorting near 3,260-3,280 with targets around 3,210-3,190.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
15 Likes
Reward
15
10
Repost
Share
Comment
0/400
BrokeBeans
· 01-08 16:07
This level at 93950 really can't hold anymore. The RSI is overbought like this, and you're still pushing hard? A pullback is inevitable.
View OriginalReply0
OnchainHolmes
· 01-08 07:22
The 94800 cannot be broken, I saw it coming long ago, this short position is steady.
---
Wait, just go short when RSI forms a death cross? I feel like I’m about to get trapped again.
---
Here we go again, shorting on rallies. Those who did this last time? They probably got liquidated long ago, haha.
View OriginalReply0
DegenGambler
· 01-07 13:01
93950 this level is a bit early to short, still need to wait for the breakdown confirmation signal.
---
RSI overbought just go short? The biggest fear in our line of work is this kind of textbook operation, and you get caught right after.
---
Four-hour chart is still eating the upper band of the Bollinger Bands, there is some short-term correction pressure, but claiming the breakout probability is low and suggesting to short... the logic is a bit conflicting.
---
The target price still seems a bit aggressive, can it really reach 92600?
---
Entering a short at 94800 is a bit risky, but I still believe in the short-term correction space, just see if this wave can hold the 93K.
---
Heard the phrase "Bollinger Band ceiling" many times, every time they say to take a break, but what’s the result...
---
ETH at 3260 short can also be tried, anyway set the stop-loss at 3300, whether to profit or not depends on luck.
---
This wave of bulls is indeed fierce, but it’s time to be cautious, those who don’t believe in evil have been wiped out.
View OriginalReply0
StablecoinArbitrageur
· 01-05 23:20
tbh, the RSI overbought + KDJ divergence setup is textbook... but have you actually backtested this on the 1hr timeframe across the last 90 days? the win rate might surprise you (not in a good way). statistically speaking, mean reversion trades at these levels tend to get liquidated before they print.
Reply0
DataBartender
· 01-05 23:15
Hmm... it's a bit overextended. With RSI so overbought, pushing hard? I think a correction is definitely coming.
View OriginalReply0
RektCoaster
· 01-05 23:13
Still trading within a narrow range at high levels. This time, you really need to be cautious. The RSI is overbought; do you still dare to chase long?
View OriginalReply0
Blockwatcher9000
· 01-05 23:09
Ha, it's the same old overbought pattern. Is this time really a correction?
View OriginalReply0
rugpull_ptsd
· 01-05 22:57
Wow, there are a bunch of selling signals, RSI is already overbought, and you're still trying to push it up? I think a pullback is inevitable sooner or later.
View OriginalReply0
Lost20,000Usdt.
· 01-05 22:51
New Year Wealth Explosion 🤑
View OriginalReply0
BearMarketLightning
· 01-05 22:51
94800 short? Bro, the last time someone did that, they're still eating dirt now.
#以太坊大户持仓变化 January 6 Pre-market Observation:
Bitcoin has been quite strong these days, with consecutive large bullish candles on the daily chart accompanied by increasing volume, clearly showing the bulls' intent. The momentum continues to build based on recent daily K-line performance, and there is no ambiguity in the short-term trend.
Switching to the four-hour chart, four consecutive bullish candles are pushing upward so decisively—price remains close to the upper band of the Bollinger Bands, and the volume indicator shows that bullish funds are still pouring in steadily. There are no obvious signs of reversal. In the short term, the bulls still hold a relatively stable control.
However, at the one-hour level, caution is needed. A classic pattern of two bullish candles with one bearish candle in between has appeared, indicating that the bulls are gradually gaining control of the rhythm. But there’s a development—price is now consolidating in a narrow range near the high of around 93,950, RSI has entered overbought territory, and the KDJ is starting to show signs of a dead cross. Plus, the price is approaching the technical ceiling of the upper Bollinger Band, which hints that a pause might be needed. Honestly, the probability of a strong breakout is not very high; instead, one should watch out for short-term correction pressure.
From this perspective, short-term selling on rallies might be a viable strategy. Consider shorting $BTC in the 94,800-95,300 range with targets around 93,300-92,600; for $ETH, try shorting near 3,260-3,280 with targets around 3,210-3,190.