1.29 Midday Market Analysis

Overnight, Bitcoin repeatedly approached 90,500 but faced resistance each time. Currently, the price is consolidating around 88,000. From the market perspective, overhead resistance remains dense, and without a breakout rally, it’s difficult to open up upward space. Although there are signs of recovery on the four-hour chart, the rebound clearly stalls at the upper Bollinger Band, lacking continuity. The four-hour chart for Ethereum clearly shows that the price rebound has effectively reached the upper Bollinger Band resistance and then retreated, confirming the short-term rebound momentum has exhausted. The current market structure is clearly biased towards resistance, and the upward space has been firmly locked. Therefore, the recommended strategy remains mainly to go short at high levels.
BTC Trading Suggestion: Enter short positions near the 88,500-89,000 range, take profit at 87,800-86,800, stop loss above 89,500.
ETH Trading Suggestion: Enter short positions near 2,970-3,000, take profit at 2,920-2,860, stop loss above 3,030.