1.9 Evening Bitcoin and Ethereum Market Analysis and Trading Suggestions

From the current chart, the 4-hour timeframe has been consecutively closing lower with bearish candles. Although the price is temporarily holding above the key support zone, the rebound is clearly weak. The bullish momentum continues to diminish, lacking effective upward driving force. The price repeatedly faces resistance at the middle band of the Bollinger Bands and has not been able to break through the upper boundary of the downward channel. Additionally, the moving average system on this cycle is in a bearish alignment, indicating that the overall trend remains dominated by bears.

On the 1-hour timeframe, there has been a series of bullish rebounds, but the upper Bollinger Band resistance is obvious, and the overall channel is gradually narrowing, indicating that the current upward movement is merely a technical correction and does not signal a trend reversal.

Combining multiple timeframe technical patterns, the overall market sentiment remains weak. After a rebound correction, the probability of further decline is relatively high. Therefore, for tonight’s trading, it is recommended to mainly go short on rallies that face resistance, setting reasonable stop-loss levels and managing risk properly.

Tonight, you can short Bitcoin around 91,000, with a target of 89,000.

Tonight, you can short Ethereum around 3,120, with a target of 3,020.