2026-01-20 02:25:08

After Bitcoin's sharp decline on Monday, the market entered a correction phase. Although it is still above 92,000, the rebound feels somewhat weak, and buyers are showing clear resistance.

Looking at the 4-hour chart, you can sense that: after the decline, there was no stabilization, and during the rebound, trading volume kept shrinking each time. Several attempts to push higher failed, indicating a lack of genuine buying strength in the market. The threat of interest rate hikes still looms overhead, and under the dual pressure of technical and fundamental factors, the market appears particularly dull.

Do not interpret this as a bottom reversal signal. In reality, this is just a brief pause within a downtrend, and Bitcoin is likely to test new lows.

In terms of trading strategy, consider short positions in Bitcoin within the 93,500 to 94,000 range, with the first target at 91,800. For Ethereum, look to short around 3,230 to 3,250, with initial support at 3,150.

BTC-2.23%

ETH-3.67%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

4 Likes

Reward
4
3
Repost
Share

Comment

0/400

YieldFarmRefugee

· 6h ago

It's the same old trick again, every time claiming there's a new low, but then it rebounds and catches you off guard. --- If we can't hold the 92000 line, it's ridiculous. I was actually thinking of bottom fishing. --- The shrinking trading volume means no one is willing to buy in. This signal is absolute. --- Short positions are okay to set up, but I'm worried about a reverse dump that could wipe out everything. --- With the rate hike hanging overhead like a sword, who dares to hold heavy positions? It's exhausting. --- Whether the 3150 support can hold is the key; otherwise, Ethereum will have an even harder time. --- I just want to ask, how long can this "breathing pause" last? It won't stay this dull forever, right? --- If 91800 breaks, I'll admit defeat and continue to be bearish. --- Both technical and fundamental aspects are suppressed; this market is dead boring.

View OriginalReply0

WalletDoomsDay

· 6h ago

Is it going to break the bottom again and again? This rebound is like squeezing toothpaste, with trading volume getting worse each time. Is it really going to drop to 91,800?

View OriginalReply0

StakeWhisperer

· 7h ago

Oh no, here comes another market to cut leeks. The recent drop really has no rebound strength. Trading volume is still shrinking, which is outrageous. To put it simply, no one is willing to buy in. Several failed attempts at a rebound. The bears are well-positioned, waiting for new lows. The sword of interest rate hikes is still hanging overhead, no wonder the market is so dull and lifeless. Above 92,000 has become just a decoration. I think it will break below again. The 93,500 level is indeed interesting. Considering shorting? Feels about right. Ethereum also hasn't shown much sign of recovery. If it drops below 3,250, it should head straight to 3,150. This wave is definitely not a reversal, just a breather. The bottom signal is a joke.

View OriginalReply0