1.29 Morning Market Analysis

Last night's decline was like a slow tide, silent and relentless, gradually eroding the bulls' position. Many who坚持看涨 (remain bullish) saw their last hope fade away inch by inch. The market shows no mercy; price itself is its coldest language.

The technical patterns have clearly revealed the situation: bearish sentiment is dominating all timeframes. The daily chart shows a volume-driven downward trend, with indicators across different cycles all pointing downwards, indicating a clear direction without any hesitation. On the four-hour chart, the Bollinger Bands remain sloped downward, with prices firmly suppressed below the middle band, and no significant rebound attempts have appeared. In such a pattern, blindly guessing a bottom is akin to swimming against the current, with risks entirely on the trader.

From short-term to four-hour charts, prices are gradually moving down along the lower band with weak rebound momentum; the daily chart has already broken through key support zones, and the original structure is beginning to disintegrate. On the monthly chart, a prominent long upper shadow indicates heavy selling pressure at high levels, and the possibility of testing the support near 80,000 again before the end of the month is increasing. If the main asset continues to weaken, the depth and duration of the correction may further extend.
Trading Suggestions
When Bitcoin rebounds to around 87,900-88,400, consider shorting with targets at 86,500-86,000; if broken, look further down to 85,000.
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