2026-01-20 03:33:28

Bitcoin experienced a sharp correction during yesterday's early trading session, and the entire day remained in a state of oscillation and adjustment. Additionally, the overseas stock markets were closed, which significantly narrowed the price fluctuations.

From the 4-hour K-line chart, no solid bottom structure has formed after the decline. During the rebound, trading volume gradually shrank, and multiple attempts to push higher ended in failure. This adjustment pattern is not a reversal signal; rather, it is a typical consolidation during a downtrend.

Based on the current trend, Bitcoin is likely to initiate a second round of decline. Yesterday's short positions performed perfectly, with Bitcoin dropping 1100 points and Ethereum dropping 70 points, which is basically in line with expectations.

Technical suggestions to watch: For BTC, look for shorting opportunities around 92900-93400, with a downside target of 91900-91000; for ETH, consider shorting near 3200-3230, with support levels at 3150-3120. Future market movements will still depend on the impact of US economic data.

BTC-1,92%

ETH-4,4%

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WhaleShadow

· 10h ago

Here we go again with the pattern analysis, always saying there's a secondary dip, and what happened? Shorts are probably fully loaded again, beware of a rebound. Narrowing volatility indicates an upcoming direction. Is this really a false breakout again? That 1100-point drop yesterday, luckily I didn't go all-in long, or I wouldn't be able to sleep. Once the US data is released, these support levels are probably useless.

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wagmi_eventually

· 10h ago

It's going down again. This bearish trend is really steady, precise, and ruthless. The last prediction was just as accurate.

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ForkThisDAO

· 11h ago

Is it going to test the lows again? I feel like it's all testing the lows. When will there be a rebound?

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StablecoinEnjoyer

· 11h ago

It's going down again, this wave the bears are making a killing.

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FUDwatcher

· 11h ago

Is it going to dip again? Fine, anyway the bears are making a killing. This position is about to take off again. Still looking at US data... same routine every time. 92900 short, gamblers should get in now. It ended without incident haha, perfectly described. Feels like it still needs to fall, keep watching. Shrinking volume is a signal, those who understand know. See you at 91000, no problem. Will there really be a second round this time? Feeling a bit uncertain. Big winner for the bears, the bulls are trapped again.

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rugpull_survivor

· 11h ago

Going to dip again? I just want to know how low this wave can fall so I can buy the dip.

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SolidityJester

· 11h ago

Starting to organize again, it seems like the bears are going to continue to eat up.

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