Recently, Bitcoin's price movement has been quite aggressive. The underlying logic is not complicated—lower-than-expected inflation data has increased expectations of Fed rate cuts, which in turn has injected a large amount of liquidity into crypto assets. Market sentiment has clearly shifted to optimism, with many beginning to link the current market to the strong performance of gold, and some even outright stating that this is a sign of the early stage of a bull market.
What about the technical perspective? The upward trend remains intact, and bullish momentum is quite sufficient. Once a key resistance level is broken, the subsequent upside potential will further open up. But here, we also need to listen to the opposing voices—some traders point out that the market has entered an overbought zone, facing a risk of a short-term correction, coupled with selling pressure from long-term holders at high levels.
To be honest, the shorts have been cleaned out quite badly recently, but that doesn't mean there is no risk. What is the current advice? Take profits in stages, wait for a pullback to re-enter, which can effectively reduce risk exposure. The overall trend is upward, but always stay alert to short-term volatility and capital rotation between different assets.
**Current data reference:** The current price is around 94,199.4 USDT, with the first support level at 91,700.6, approximately 2.63% below. If approaching the support level, consider placing buy orders to build a long position, but remember to cut losses decisively if the support is broken.
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BetterLuckyThanSmart
· 12h ago
I'm tired of the repeated phrase "partial take profit," I just want to know when we can return below 90,000 to buy the dip.
While clearing out the bears is necessary, I still don't dare to chase the high; I'd rather miss out than get trapped.
The overbought zone is still rising, which is ridiculous, I always feel like a dump is coming.
The reason "gold is strong"—is that serious? When Bitcoin rises, it’s just Bitcoin rising; don’t always blame gold.
Wait, if it really drops to 91,700, I’ll go all in—what do you think about betting it all?
Early in the bull market? Uh... I’ve heard that phrase too many times.
I understand there’s ample liquidity, but I’m just worried that one day a black swan event might come and break through the support level.
Honestly, I’m a bit scared; I’ve already taken half profits, and the rest depends on luck.
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MetaverseMortgage
· 13h ago
It's too early to say we're in the early stage of a bull market; the risk of overbought conditions truly exists.
Gradual profit-taking is the right approach; greed leads to bad outcomes.
The 94199 level is indeed risky, but failing to hold 91700 is the real danger.
A short squeeze ≠ risk-free; there's a problem with that logic, everyone.
Expecting rate cuts to bring liquidity and cause a rise? I've seen this script too many times.
The selling pressure at high levels hasn't been alleviated yet; don't rush to be optimistic.
Consider re-entering after a pullback to 91700; jumping in now makes you the bagholder.
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GateUser-75ee51e7
· 13h ago
Here comes the narrative of cutting leeks again. As long as everyone says it can make money, that's fine.
Did the short positions get wiped out badly? I just want to know who made money.
Taking profits in stages sounds good, but I don't have any holdings at all haha.
94K, should we keep pushing? Feels a bit uncertain.
It's good to be optimistic, but I think I'll wait until 91,700 to see.
I've heard the term overbought so many times, and every time they say it's overbought, it keeps rising.
Is this really the early stage of a bull market? Feels like the same rhetoric as last time.
Can the expectation of interest rate cuts really last this long? I find it hard to believe.
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MevTears
· 13h ago
The short positions were cut again, haha, but can the selling pressure at this high level really hold up?
Splitting profits gradually is the right approach. I already have orders around 91,700.
The early stage of the bull is still a trap for a pullback; we need to see if it can hold above 94,000.
The logic of gold rising together is indeed strong; liquidity is the key.
In the short term, volatility is unpredictable, so it's better to heed the risk warnings.
The overbought signals are so obvious; it won't just rise straight up like that.
If support breaks, run immediately. Don't wait to get caught and regret it.
Recently, Bitcoin's price movement has been quite aggressive. The underlying logic is not complicated—lower-than-expected inflation data has increased expectations of Fed rate cuts, which in turn has injected a large amount of liquidity into crypto assets. Market sentiment has clearly shifted to optimism, with many beginning to link the current market to the strong performance of gold, and some even outright stating that this is a sign of the early stage of a bull market.
What about the technical perspective? The upward trend remains intact, and bullish momentum is quite sufficient. Once a key resistance level is broken, the subsequent upside potential will further open up. But here, we also need to listen to the opposing voices—some traders point out that the market has entered an overbought zone, facing a risk of a short-term correction, coupled with selling pressure from long-term holders at high levels.
To be honest, the shorts have been cleaned out quite badly recently, but that doesn't mean there is no risk. What is the current advice? Take profits in stages, wait for a pullback to re-enter, which can effectively reduce risk exposure. The overall trend is upward, but always stay alert to short-term volatility and capital rotation between different assets.
**Current data reference:**
The current price is around 94,199.4 USDT, with the first support level at 91,700.6, approximately 2.63% below. If approaching the support level, consider placing buy orders to build a long position, but remember to cut losses decisively if the support is broken.