2026-01-07 05:25:12

The daily chart of Bitcoin has already shown obvious top characteristics. From the perspective of Fibonacci retracement, the area around 94,200 forms a key resistance level. Whether this level can be broken will determine if the upward trend can continue.

The four-hour technical indicators have long been overbought, with frequent overbought signals. Continuing to chase long positions in this state carries significant risk; instead, shorting opportunities are more worth paying attention to.

Looking at the recent market, Bitcoin has shown clear downward pressure around the 93,000 level. This serves as a logical entry point for short positions—placing short orders around 93,000 with targets at 91,300-90,300. Currently, this strategy has already yielded good profits.

For friends who haven't entered the market yet, the vicinity of 93,000 still presents a good shorting opportunity. As long as the Fibonacci resistance is not effectively broken, the short-term downward expectation remains valid. Today's trend is likely to continue this downward momentum.

BTC0,33%

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TokenEconomist

· 5h ago

actually, let me break this down—the fibonacci retracement logic here checks out, but ceteris paribus you're ignoring the macroeconomic variables that could invalidate this entire thesis overnight. think of it this way: technical indicators are lagging by nature, so the "overbought" signal is basically your rearview mirror talking.

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GateUser-a606bf0c

· 8h ago

Hmm... This short position is indeed somewhat promising. I'm also watching the 93,000 level.

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WhaleWatcher

· 12h ago

This round of short positions is indeed profitable; everyone who entered at 93,000 is laughing.

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WalletDivorcer

· 19h ago

Oh no, it's the top again. Every time I say it's the top, why doesn't it drop? Wait, can't 94200 really break? I looked at the candlestick chart and don't feel it's that pessimistic. The short position at 93000 is indeed a bottom-fishing, but you need to understand the risks clearly and avoid getting trapped. Indicators maxed out ≠ necessarily a drop. This logic often fails. Now entering a short position? I think it's better to wait and see, don't chase the high short.

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WhaleShadow

· 01-07 05:50

93000 short positions are really incredible. I saw this pullback coming a long time ago. When technical indicators are fully bullish, it's time to run.

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BearMarketBarber

· 01-07 05:35

93000 is empty now, just waiting to harvest the leeks haha

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Frontrunner

· 01-07 05:34

93000 is empty now, just lying back and winning haha

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RugpullTherapist

· 01-07 05:34

Hmm... It's the same golden ratio again. Every time they claim it's clear, but it always underperforms. I stopped believing in this stuff a long time ago. I said the same thing yesterday, and it shot straight up to 94,500.

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BanklessAtHeart