Analysis #$BTC on January 8:

- Timeframe 1D: BTC is still in an uptrend. However, yesterday’s candle formed a red candle that engulfed the previous candle, which is a very bad reversal signal. To continue in an uptrend, BTC needs to break the structure of this candle. The first thing to do is to keep today’s candle volume low and the price line short. Therefore, I think in the next 2 days, BTC will continue to hover around the 96-97 range.

The price levels to pay attention to are 96000 and 975-982.

- Timeframe D4: Today marks the start of a new D4 candle. With the candle dropping nearly 7k yesterday, the bearish reversal candle structure could extend all the way to the W2 timeframe (2 weeks). So the D4 timeframe is also showing signs of being pulled down. As I mentioned in my analysis yesterday, the effort to break the downtrend of the D4 timeframe has temporarily failed. The two price levels where BTC might be pulled down in the upcoming D4 candles are 95x and 90x.

- Timeframes W1-W2 are looking very bad, with the price line continuing to be pulled down to form a downtrend.

=> Analysis:

- Yesterday, I was very accurate when predicting BTC's drop to the 96-98 range along with ETH's price around 34x, and DOGE around 0.33-0.34.

- In the coming days, BTC may reach the 95x range before bouncing back up to break the bearish candle structures because I still believe the 9x range is an accumulation zone for large organizations, and accumulating will be easier when creating FUD like last night to allow individual investors to exit.

My long-term view this year remains very high. Therefore, if anyone has entered positions, pay attention to the slightly lower burning point (pulling down below 80k).

Currently, I still do not see any signs of a bullish reversal; only the smaller timeframes 1-2H show signs of creating a bottom.

Please refer to this.