January 23 Bitcoin (BTC) Market Outlook

From a technical perspective on the 4-hour chart, the Bollinger Bands are opening downward overall, with the price moving between the middle and lower bands, and the middle band continuously turning downward, indicating a clear weak market pattern. Regarding volume, during the recent rebound, trading volume has not effectively increased, suggesting that this upward movement is more of a technical correction rather than a trend reversal signal. Combining the downward trend line extended from the previous high of 95,500, the current price is near the resistance level of this trend line. Multiple technical signals are resonating, further enhancing the safety of a high-short position.

Bitcoin trading suggestion: Rebound around 90,000-90,600, with a target of 88,800-87,000.