Wednesday, January 1st, Bitcoin rebounds without success, the market still needs to watch for continued bearishness.

With the new year upon us, it is a fresh start for everything. Good morning to all crypto friends! Bitcoin's performance yesterday saw a dip followed by a rise, with a morning bottoming out and an evening stretch. After reaching the 96,200 area, it faced resistance and retraced, currently returning to the 93,600 line. The trend has reversed multiple times without much continuation. However, during the rebound process, there are still some limitations, and the overall market trend remains weak. Therefore, the main strategy continues to focus on shorting at higher levels.

With the arrival of New Year's Day, U.S. stocks are closed again today. Those in the crypto circle are likely aware that when U.S. stocks are closed, the crypto market won't see much movement, so there is no need for too much strategy in intraday operations, mainly focusing on short-term trades.

From the daily chart, the market still shows a weak pattern in the short term, continuing to experience a downward trend with limited rebounds. The downward structure has not changed due to the brief rebound, so the main strategy remains to focus on shorting at higher levels. Similarly, the 4-hour chart shows that the rebound has not continued, with cryptocurrency prices rebounding to the upper range and facing resistance again, leading to a drop. Under the overall bearish structure, the rebound lacks continuity, so we will maintain the bearish outlook.

On Wednesday morning, it is recommended to short Bitcoin in the 94,000-94,500 area, with a target of 92,000-91,000. Ethereum can proceed in sync!

In the crypto circle, it is never a lack of opportunities, but rather a lack of an excellent guide. If the people around you are all outstanding, it would be hard for you not to excel yourself!