January 11 Morning Market Observation: Technical Analysis of Bitcoin

The recent market movement has been quite interesting. Bitcoin peaked at 94,700 and then retraced, finding support at a low of 89,300. It is now oscillating around 90,000. In simple terms, this is a natural correction after a rapid rise—shaking out short-term overleveraged retail traders and accumulating momentum for the next upward move.

Looking at the 4-hour K-line, the price has already fallen near the lower Bollinger Band, which provides support. It is now beginning to rebound, pushing towards the middle Bollinger Band. Interestingly, the trading volume behavior shows a clear pattern—shrinking during the decline, but modestly increasing during the rebound, indicating that funds are quietly entering the market rather than a false rebound.

Overall, the 90,000 level has become the bottom of the previous rally's correction phase. From a technical perspective, this is indeed a good opportunity for long entries.

Morning Trading Strategy: Consider positioning between 90,000 and 90,300, with a target around 91,500. Of course, markets can change rapidly, so be sure to set proper stop-losses when trading.