1.10 Saturday Bitcoin and Ethereum Midday Analysis

Recently, after Bitcoin reached 94,700 points, it has shown a correction trend for two consecutive days. It dropped sharply from its high point, breaking below the middle band of the Bollinger Bands, which is usually seen as a sign of short-term trend weakness. Although there was a rebound last night, it lacked sufficient momentum and is still affected by the reverse pressure of the middle band.

From the 4-hour technical chart analysis, the Bollinger Bands indicator has broken below the middle band. The current price fluctuates between the middle and lower bands, with both the upper and middle bands showing a downward tilt, forming a clear bearish alignment. During the decline, trading volume did not increase significantly, indicating that sellers have not exited the market on a large scale, and the low volume during rebounds also shows a lack of buying strength. Therefore, today's suggestion is to maintain a short position, but given the slow market trading pace over the weekend, it is suitable for short-term trading.
Bitcoin 90800 watch 89000 nearby, Ethereum 3100 watch 3050.
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