1.7 Evening Market Brief

Bitcoin has been dropping from 93,700 all the way down to 91,500 before finally stabilizing. Currently, it’s oscillating within a narrow range, showing little sign of vitality.

Looking at the hourly chart, both the middle and upper Bollinger Bands are continuously trending downward, with no signs of narrowing—this indicates that the bearish momentum is far from exhausted. Although the lower band is still in place, it’s merely passive support, not a true level of support. Every rebound attempt upward is weak, and even the middle band is turning downward. The bulls are really lacking fighting power at this point.

My straightforward judgment is—don’t try to guess the bottom at this level.

Trading strategy:

For Bitcoin, short within the 92,800 to 93,800 range, targeting the lower zones of 91,000-90,200.

For Ethereum, short between 3,260 and 3,310, with potential downside space below 3,150-3,100.

The current momentum still favors the bears. Short-term rebounds should be viewed not as reversal signals but as better entry points. Don’t let fear drive you into chasing highs; what you really need to watch out for is trading against the trend.

Whether to follow or stay on the sidelines is your choice. I’ve said all I need to say—market will give the answer itself.