1.9 Thursday Market Analysis

Looking at Bitcoin's 4-hour chart, the recent price touched the lower Bollinger Band for support, showing signs of rebound, indicating that the key support has withstood the bears and has not been breached.

The strength and sustainability of the subsequent rebound will guide the market direction.

Currently, the bearish momentum is nearly exhausted, and prices are no longer falling unilaterally; the market may tend towards balance. The risk of shorting in the short term is high, and it is safer to buy on dips.

In practice, wait for the price to pull back to a low point before making a reasonable buy, which can avoid the risks of chasing highs and cutting losses, and gain from the rebound. The market is volatile, and caution is still needed in tracking.

Trading Suggestions:

Bitcoin: Buy between 94000 - 93500, target 95000 - 96000.

Ethereum: Operate in sync.

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