January 8th, Thursday Bitcoin Morning Analysis and Commentary

Recently, Bitcoin's upward trend has clearly slowed compared to previous gains. The current price is testing downward, with a 24-hour decline already significant. This indicates that in the short term, market sentiment has shifted from bullish to bearish. However, it is important to note that around 90600 below is the lower band of the Bollinger Bands, which provides strong support. Therefore, it is recommended to adopt a light short position approach and avoid heavy trading.
From the technical structure on the 4-hour chart, after the Bollinger Bands opened, they began to narrow. The price has fallen from near the upper band to below the middle band, indicating that short-term upward momentum is exhausted; this further confirms a reversal signal in the short-term trend. The KDJ indicator's three lines have all entered the oversold zone, suggesting that short-term bearish forces dominate, but there is also a possibility of a technical rebound. Therefore, strict stop-loss settings are necessary in trading to prevent rebounds at key support levels.
Thursday morning suggests a range of 91600-92000 for a short position, with targets around 89000-90000.