Recently, this market trend is quite interesting. Bitcoin started to rebound from around 88000 USD and is now fluctuating just below 89000 USD. To be honest, the upward momentum in this consolidation pattern is indeed slowing down in the short term, but there are still opportunities.
Looking back at the trend, BTC began to rebound after breaking through $87500, which has proven to be a strong support level. Currently, the price not only holds above $87500 but also stands firmly above the 100-hour moving average, which is a good signal for the short-term trend. Looking at the hourly chart, a clear upward trend line is forming, with the current support point around $87900. If the price pulls back to this level, it is likely to attract funds to enter the market for bottom fishing, thereby halting the downward trend.
The key also lies in whether it can break through $89,100. Once it stabilizes at this position, the subsequent rise trend may continue, and market sentiment will turn optimistic, making it highly likely to push for higher price levels. However, it must be said that we are still in a consolidation period, and the degree of coordination between trading volume and market strength determines how far the market can go.
In summary: Bitcoin is currently in a critical range, with clear support levels and short-term potential for a pump, but a real breakthrough still requires sufficient trading volume. For beginners, just remember two points—there may be entry opportunities when it falls back to support levels, and it is only when it breaks through resistance levels that the upward trend is truly confirmed. Keep a close eye on price and trend line performance, as this is the most important factor in judging the next steps.
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Recently, this market trend is quite interesting. Bitcoin started to rebound from around 88000 USD and is now fluctuating just below 89000 USD. To be honest, the upward momentum in this consolidation pattern is indeed slowing down in the short term, but there are still opportunities.
Looking back at the trend, BTC began to rebound after breaking through $87500, which has proven to be a strong support level. Currently, the price not only holds above $87500 but also stands firmly above the 100-hour moving average, which is a good signal for the short-term trend. Looking at the hourly chart, a clear upward trend line is forming, with the current support point around $87900. If the price pulls back to this level, it is likely to attract funds to enter the market for bottom fishing, thereby halting the downward trend.
The key also lies in whether it can break through $89,100. Once it stabilizes at this position, the subsequent rise trend may continue, and market sentiment will turn optimistic, making it highly likely to push for higher price levels. However, it must be said that we are still in a consolidation period, and the degree of coordination between trading volume and market strength determines how far the market can go.
In summary: Bitcoin is currently in a critical range, with clear support levels and short-term potential for a pump, but a real breakthrough still requires sufficient trading volume. For beginners, just remember two points—there may be entry opportunities when it falls back to support levels, and it is only when it breaks through resistance levels that the upward trend is truly confirmed. Keep a close eye on price and trend line performance, as this is the most important factor in judging the next steps.