## Bitcoin Technicals Face Critical Test: Can Support Levels Hold? Currently, Bitcoin is fluctuating around $91.17K, with a gain of +1.12%. Market focus is on the key resistance level at 90333, which is both a previous high and a stubborn resistance that has been tested multiple times without success. From a technical perspective, Bitcoin has experienced a clear downtrend after a period of stagnation, breaking out of the flag pattern. The simultaneous decline in volume and price indicates this is not a false dip but a genuine technical breakdown. ## Support Level System Faces Multiple Tests At present, Bitcoin is testing the strength of multiple support levels. The 87388 level can only serve as a buffer and does not provide substantial support. The real critical line is at 86750; once broken, the downside space will further open. It is worth noting that on the 4-hour chart, the EMA20 and 50-day moving averages are still in effect, and the decline has not yet expanded below them, providing a technical basis for a rebound. ## Key Trading Range and Strategies **Hourly Level**: If Bitcoin breaks through 88989 with volume, consider chasing long positions on the right side, targeting the 89343-90311 range; if it drops below 88070 with volume and cannot recover, then consider chasing short positions. Be sure to set stop-loss orders. **4-Hour Level**: 87928 is an important support point. A break below could lead to a move toward 87377-86582; if it cannot reclaim above 87928, continued pullback pressure will follow. ## Rebound Signs and Observation Focus A positive signal is that in this rebound, the 4-hour chart has formed a higher high and touched the EMA200, indicating that upward momentum has not been completely lost. The key is whether the market can consolidate without breaking below the low of 86750. Going forward, closely monitor volume changes, as the ability of volume to match price movements will determine the future direction. Currently, Bitcoin is at a technical crossroads. Breaking through 90333 would truly signal the start of an upward trend, while losing 86750 warrants caution for further downside risk.

#PEPE As of 2:00 on January 5, 2026, PEPE has not shown clear signs of topping out, but there are risks of partial short-term profit-taking and selling pressure. The overall pattern remains oscillating and weak, with no conditions for a confirmed trend top. The following are comprehensive assessments and operational suggestions: 1. Core Dimension Judgment (Market + Whales + Technical) - Market Sentiment: Cryptocurrency fear and greed index is neutral to slightly optimistic. BTC stabilizes around $90,000 after fluctuation. Mainstream coins are recovering, but MEME sector funds are clearly flowing out. PEPE lacks sector resonance support. - Whale Address Movements: Significant bullish and bearish divergence. A large whale transferred $3.7 million worth of PEPE to exchanges for liquidation. An old address holding 168.55 billion PEPE has cashed out about $969,000. Meanwhile, institutional addresses are accumulating 1.51 trillion PEPE, indicating possible short-term control and swing trading. No large-scale collective exit overall, but localized selling pressure should be watched. - Technicals: Daily RSI=43.5 (not overbought), MACD below zero line without a golden cross, price below 50-day and 200-day EMA, indicating weak rebound; 24-hour trading volume around $15 million, no signs of volume-driven top, funds have not exited massively. 2. Top Confirmation Conditions (Must be met simultaneously) 1. RSI >70 with bearish divergence, or rapid surge followed by volume-driven decline. 2. MACD death cross above zero line, with histogram bars continuously enlarging. 3. Price falls below 50-day EMA with volume doubling and net outflow of main funds. 4. Rapid pullback after a high or previous high, forming a reversal candlestick with “long upper shadow + volume increase.” 5. Whale addresses transferring large amounts of tokens to exchanges, with net outflows exceeding $50 million for three consecutive days. 3. Operational Checklist (Primarily swing short) 1. Short at $0.0000072-$0.0000075 on rebound, stop-loss at $0.0000078 (above previous high), target $0.0000064. 2. If volume breaks below $0.0000064, add to short positions on rebound to $0.0000064-$0.0000066, stop-loss at $0.0000068, target $0.0000059. 3. If a single-day volume surges over 20% with RSI >70, combined with large whale outflows, consider light short positions, with stop-loss 2% above previous high. 4. Position control: do not exceed 10% of total funds in a single position, enforce strict stop-loss to avoid counter-trend bottom fishing. 4. Risk Warning PEPE is a high-volatility MEME coin with no fundamental support. Whale control can cause abnormal price fluctuations. Judgments should be based on comprehensive analysis of market sentiment and whale address movements. The above is only technical and on-chain analysis and does not constitute investment advice.