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Thursday, 1.29 Midday Market Analysis:
Bitcoin's morning trend continued from the early hours, pulling back from around 89,500 to approximately 87,700, currently rebounding to around 88,000 with sideways fluctuations. Ethereum retreated from around 3,020 to approximately 2,945. The morning rally was taken profit on the way up.
Currently, the four-hour chart shows decreasing volume with four consecutive bearish candles, indicating a downward breakout. MACD is gradually forming a death cross and moving downward, while the KDJ is diverging downward. On the hourly chart, the price has broken below the middle band and touched below the lower band, with increasing momentum gradually reaching its peak.
Thursday Midday:
For the rebound, short positions around 88,400-88,700 targeting 87,400-87,100 are suggested.
For the rebound, short positions around 2,965-2,985 targeting 2,925-2,900 are suggested.