1.23 Market Trend Analysis

The hourly chart of Bitcoin provides a clear signal! When attempting to break through the 90,000 level, it was met with resistance and fell back, with selling pressure causing a sharp drop. Short-term bullish breakout is essentially hopeless.

Switching to the 4-hour timeframe, the market structure becomes clearer—the price has been consistently suppressed within a consolidation zone, with support and resistance levels highly identifiable. Currently, the price is exactly at the upper boundary of the zone, a key resistance level, and the upward space is completely blocked. More importantly, the volume of this rebound has been shrinking throughout, indicating that the bulls are already exhausted. The so-called rebound is just a false rally at the end of the strong hand, and should not be deceived by appearances! This rebound cannot change the overall bearish trend!

Trading Suggestions
Bitcoin: Short in batches within the 90,000-90,500 range, with a target of 88,500-87,500.

Altcoin: Short in batches within the 2,960-2,980 range, with a target of 2,900-2,800.