On Friday, January 9th, Bitcoin Morning Analysis and Commentary

Recently, Bitcoin's price reached a high of $94,700 before experiencing a normal correction. Currently, the price has found strong support around $89,000 and has successfully rebounded to the $91,000 level. This adjustment is healthy and represents a technical correction within the upward trend. From the volume perspective, there was no significant increase during the decline, indicating that the bearish momentum is weakening and this is an ideal opportunity to enter long positions.

From a technical structure standpoint, on the 4-hour chart, the Bollinger Bands indicator shows that the price has rebounded from near the lower band. The upper and middle bands remain intact without any clear downward turning trend. Additionally, the K and D lines in the KDJ indicator have formed a golden cross at low levels, and the J line has recovered from the oversold area, signaling a clear short-term bullish trend. Overall, the current price has consolidated at a key support zone, and all technical indicators show buy signals, making it a good time to position for long trades.

Friday morning recommendation: go long on Bitcoin at $90,200-$90,600, targeting around $92,000-$93,000.