BTC surged to 90799.90 then dropped sharply, touching around 90300, and is now oscillating within this range.
Support is holding at the 90350-90400 level. If it breaks below, the next target will be the 90000 level. Resistance to the upside is strong, with 90600-90700 being a tough barrier that bulls find hard to break through.
From the candlestick chart, the MA7 has crossed below the MA30, indicating a classic death cross. The two moving averages are diverging downward, and the price remains below the moving averages, showing strong bearish momentum.
In recent days, the market has been dominated by bearish candles. The early morning dip and rebound? Essentially a technical rebound after overselling, with no real reversal signals yet.
Short-term strategy: Short around 91000-91500, with targets at 90000-89000 below. Keep an eye on the correlation between $BTC and $ETH.
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Market Review for January 11:
BTC surged to 90799.90 then dropped sharply, touching around 90300, and is now oscillating within this range.
Support is holding at the 90350-90400 level. If it breaks below, the next target will be the 90000 level. Resistance to the upside is strong, with 90600-90700 being a tough barrier that bulls find hard to break through.
From the candlestick chart, the MA7 has crossed below the MA30, indicating a classic death cross. The two moving averages are diverging downward, and the price remains below the moving averages, showing strong bearish momentum.
In recent days, the market has been dominated by bearish candles. The early morning dip and rebound? Essentially a technical rebound after overselling, with no real reversal signals yet.
Short-term strategy: Short around 91000-91500, with targets at 90000-89000 below. Keep an eye on the correlation between $BTC and $ETH.