How to view Bitcoin market tonight? From the candlestick structure, the range between 92800 and 93000 is well defended, and spot buy orders are indeed accumulating there, which can be seen as a short-term strong support. Conversely, 93800 to 94000 is a recent resistance level, with many contract shorts opening positions there, making it prone to encountering resistance.
From the overall market perspective, Nasdaq futures are fluctuating narrowly today, and the correlation between BTC and tech stocks is around 0.65. No extreme synchronized movement signals have appeared, indicating the market remains relatively independent. Additionally, it’s worth noting that trading volume has mildly increased, with a 18% rise in the 30-minute timeframe compared to earlier periods, suggesting market participation is rising but not yet at a breakout volume level.
For tonight’s trading strategy, consider the following: for long positions, enter around 93000 to 93200, targeting the resistance zone at 93800 to 94000. For short positions, if you want to test the waters, enter small positions around 93800 to 94000 with a stop loss at 94200, aiming to fall back to 93200 to 93000. Overall, the market is expected to experience short-term strong oscillation, most likely bouncing within this range, with no clear breakout signals seen for now.
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NFTPessimist
· 01-09 05:36
It's another range-bound fluctuation, so boring.
Let's wait until the trading volume really picks up; right now, it's just a grind.
That 93,000 level is indeed quite strong. How many people are trying to buy the dip there?
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ExpectationFarmer
· 01-06 17:40
92,800 holds firm, the bears are holding at 94,000, it's another day of consolidation.
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TooScaredToSell
· 01-06 09:50
93,000 holding steady is stable; feels like tonight will be a back-and-forth here.
The moderate increase in trading volume is interesting, but it's not the moment of true takeoff yet.
Bullish entry, stay calm, and don't let it drop below 94,000.
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ProbablyNothing
· 01-06 09:48
92800 hold tight, now it's all about whether we can break through 93800 or not, otherwise it'll just be oscillation again.
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GasFeeCrier
· 01-06 09:37
92800 this support level is indeed holding firm, but it feels like a last gasp, with no obvious influx of new funds entering the market.
It's another range-bound game, so annoying. Do we have to wait for a breakdown?
Is the volume gradually increasing? It doesn't look strong enough; this level of volume can't move much.
If it goes above 93000, it's worth taking a gamble—just see who breaks first.
The 0.65 correlation is a bit high; when tech stocks fall, can BTC remain unaffected?
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PensionDestroyer
· 01-06 09:30
Is the 93,000 resistance so strong? I don't think it will break that easily; the trading volume only increased by 18%.
How to view Bitcoin market tonight? From the candlestick structure, the range between 92800 and 93000 is well defended, and spot buy orders are indeed accumulating there, which can be seen as a short-term strong support. Conversely, 93800 to 94000 is a recent resistance level, with many contract shorts opening positions there, making it prone to encountering resistance.
From the overall market perspective, Nasdaq futures are fluctuating narrowly today, and the correlation between BTC and tech stocks is around 0.65. No extreme synchronized movement signals have appeared, indicating the market remains relatively independent. Additionally, it’s worth noting that trading volume has mildly increased, with a 18% rise in the 30-minute timeframe compared to earlier periods, suggesting market participation is rising but not yet at a breakout volume level.
For tonight’s trading strategy, consider the following: for long positions, enter around 93000 to 93200, targeting the resistance zone at 93800 to 94000. For short positions, if you want to test the waters, enter small positions around 93800 to 94000 with a stop loss at 94200, aiming to fall back to 93200 to 93000. Overall, the market is expected to experience short-term strong oscillation, most likely bouncing within this range, with no clear breakout signals seen for now.