January 19

Weekend saw oscillations and weakening, with a rebound followed by a decline. Short-term bullish momentum is exhausted, and the bearish signals are clear; focus on shorting with strict position and stop-loss controls. If the rebound remains weak, the downtrend will continue.

Bitcoin broke below the support zone of 94500-93500, with the 4-hour EMA20 and Bollinger middle band acting as resistance; ETH lost the 3300 level, with the 4-hour MACD forming a death cross and expanding downward, dominated by bears.
The 4-hour RSI turned from overbought to below 40, and the MACD histogram below zero expanded; multiple attempts to rebound on the hourly chart faced resistance, with declining volume and no effective support.
Bitcoin faces resistance at 93000-93800 (high trading volume zone + 21SMA) and 94200 (stop-loss level); support levels are 91700-92000 and 90450-90500 (core).
ETH faces resistance at 3230-3260 and 3290 (stop-loss levels); support at 3150-3180 and 3100.

In the past 24 hours, liquidations reached $680 million, with concentrated long positions being cleared, and market panic is intensifying. Funding rates have fallen, open interest has decreased, and bullish confidence is lacking, making rebounds prone to selling pressure. On-chain stablecoin inflows have increased, possibly indicating bottom-fishing funds, but the short-term trend remains unchanged.
Federal Reserve officials are hawkish, delaying rate cut expectations; gold hit new highs, US stock futures weakened, and risk assets are under pressure. The crypto market is linked to US tech stocks, with Nasdaq 100 futures down 1.13%, transmitting negative sentiment.

Trading suggestions:
Gradually build short positions near 93200-94000 during rebounds, targeting 92000-91300-9w$BTC $ETH