#数字资产动态追踪 Bitcoin is gathering strength again, and the details on the hourly chart tell the real story

The recent two days of BTC price action are indeed interesting. From the 1-hour K-line structure (based on recent data), the price has been repeatedly testing the 91000-91300 range, clearly indicating a stalemate between bulls and bears. My straightforward view: this is not a bad signal; rather, it’s a typical sign of the main force clearing out short-term holders. A short-term pullback is an opportunity, and it’s highly likely to push to the resistance zone of 93500-94000 within the week.

From a technical perspective, there are several details worth noting:

EMA7 is currently around 91275, EMA30 at 90741, and the convergence of these two lines is already quite evident. The price is operating just above the middle band, and the Bollinger Bands are narrowing. This kind of contraction and oscillation often indicates an upcoming directional breakout. Although the MACD’s DIF is still below DEA (351.5 vs. 378.5), the histogram has shrunk to 54.0, showing that bearish momentum is clearly weakening. The key point is that the fast line has already shown signs of turning — this is the most important right-side signal I pay attention to, hinting that a reversal may not be far off.

On-chain data further confirms this judgment. Within 24 hours, large addresses holding over 10,000 BTC increased their holdings by about 1,200 BTC, and exchange net outflows continue. Miner holdings show no signs of abnormal selling pressure, and HODLers’ coin stability is even better than last month. Futures funding rates remain neutral to slightly bullish (+0.005%), indicating the market isn’t caught in crazy leverage positions, and the overall sentiment is relatively healthy.

The macro environment is also playing a role. Expectations of the Fed slowing its balance sheet reduction in Q1 2026 are heating up, which could marginally improve liquidity. Layer2 solutions in the Bitcoin ecosystem (Lightning, Stacks, etc.) have recently hit new annual transaction volume highs, supporting the fundamentals with on-chain activity. Asian institutions are quietly laying out derivatives for spot ETFs, with compliant buying gradually penetrating the market.

How to operate? My thoughts are:

Short-term, hold steady in the 90800-91000 zone, building positions gradually. Place stop-loss at the previous daily low of 89500. The first target is 92300, the previous high. Once above 92300, accelerating to break above 93500 is highly probable. Keep leverage within 5x, and resist the impulse to be overly aggressive before the data releases.

Ultimately, the market never waits. Under the current structure, the main force’s intention is very clear — clearing out short-term holders to accumulate strength for the next move. Once the price volume breaks through the 91500 resistance, the hourly chart is likely to form an arc bottom pattern. That will be the real test of our understanding. With proper awareness, we can hold onto our positions tightly. $BTC