2026-01-20 03:00:38

January 20 Morning BTC and ETH Trading Observation

Yesterday's market started with a sharp drop. Bitcoin fell to the 91,800 level before stabilizing, then rebounded to 93,400 but was immediately hammered down again. The entire rebound lacked volume; attempts to push higher were met with strong selling, typical of a weak rebound—after a false rally, a sharp decline follows. No signs of stable support are visible.

BTC daily chart has already formed six consecutive bearish candles, indicating an extreme one-sided downtrend. The 4-hour chart isn't much better, showing significant weakness. The rebound after the decline is not genuine; it's just passive oscillation with stops and starts. Each rebound's volume diminishes, and quick rises followed by declines have become routine. Don't expect a strong rebound in the short term.

Ethereum is weakening along with BTC, even more fragile in momentum. Each rebound is heavily suppressed, with no independent upward energy. In this weak pattern, breaking support levels is highly probable.

Bitcoin Trading Advice: Short in the 93,300-93,800 range, with the first target at 92,000. If support breaks, continue shorting towards 91,000.

Ethereum Trading Advice: Short in the 3,200-3,230 range, with the first target at 3,150. If support breaks, look towards 3,080, a key level.

#Strategy加仓BTC $BTC
$SOL

BTC-1,92%

ETH-4,4%

SOL-3,2%

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ContractExplorer

· 11h ago

Tired of the tricks of trapping and smashing the market, weak rebounds are pointless. Let's wait until the breakdown before making any moves.

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RealYieldWizard

· 11h ago

Tired of the same old trick of fake rebounds and crashing the market. If you keep changing the routine, you'll never die, right?

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ser_we_are_ngmi

· 11h ago

It's the same old trick of诱多 and dumping, I knew it would turn out like this.

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BlockchainDecoder

· 11h ago

From a technical perspective, the six consecutive down days combined with declining volume form a typical distribution phase in Wyckoff's cumulative distribution theory. Data shows that the probability of a breakdown is indeed relatively high. The tactic of inducing a rally to sell off is nothing new; it’s exactly the same as the move last October. It’s worth noting that each rebound is accompanied by decreasing volume, indicating that buying momentum is clearly weakening. Can the 91,000 level hold? That’s the key to determining the future trend. Don’t be fooled by the rebound to 93,400.

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DaoResearcher

· 11h ago

Based on on-chain data and the shrinking trading volume, this weak rebound indeed confirms the hypothesis of a sharp decline in market participation. It is worth noting that an extreme single-sided pattern like six consecutive down candles almost mirrors the one-sided performance of certain proposals in historical governance votes—an early sign of mechanism breakdown.

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Degen4Breakfast

· 11h ago

Playing the trap game so skillfully, but got dumped again. I'm tired.

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