#Gate广场圣诞送温暖 Despite the strong pump of BTC in the early morning, it has shown signs of fatigue at the high point of 88500, with indications of weakening upward momentum. This pump has consumed too much long positions strength, and the price has faced resistance and retreated at the 89100 level, making it difficult to break through in the short term.
The key point in the current market is the support strength at the 88000 integer level. If this level is effectively broken, it will confirm a short-term top structure, likely triggering a chain reaction of profit-taking and long positions liquidation, leading to a wave of technical correction downwards in the morning prices. Therefore, chasing long positions at the current level carries high risk. It is advisable to remain cautious and closely monitor the defense situation at the 88000 level. If the price breaks below this key support, market sentiment may shift towards short positions in the short term, with subsequent support levels to watch at 87500 and 86500.
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Bitcoin is battling uphill even with fatigued pumps. Pick some facts below 👇
The key point in the current market is the support strength at the 88000 integer level. If this level is effectively broken, it will confirm a short-term top structure, likely triggering a chain reaction of profit-taking and long positions liquidation, leading to a wave of technical correction downwards in the morning prices. Therefore, chasing long positions at the current level carries high risk. It is advisable to remain cautious and closely monitor the defense situation at the 88000 level. If the price breaks below this key support, market sentiment may shift towards short positions in the short term, with subsequent support levels to watch at 87500 and 86500.