Bitcoin Market Analysis and Trading Suggestions on January 23 (Drafting Time: 0:33)

The current price of Bitcoin (BTC) is around 89,000. Fans are aware that the previous short position was taken around 87,000, and they have set up long positions to hold. The price rebounded above 89,000 today but faced resistance and pulled back again. It is suggested to reduce positions and take profits. From the 4-hour chart, technical indicators show a clear bearish dominance in the market. The moving average system is in a bearish arrangement, with EMA5 (89,297) below EMA10 (89,628) and MA20 (90,474), and the price is running below all major moving averages, indicating strong short-term downward momentum. The MACD indicator shows that DIF (-1,132) is running above DEA (-1,162) in a converging pattern, and a death cross has not yet formed. The green histogram (60) shows a contraction in volume, and attention should be paid to the potential for a second bottom divergence after a golden cross! The BOLL indicator shows the price running near the lower band, with all three lines trending downward, indicating a possible test of yesterday's low again in the short term. It is suggested to focus on short positions at the intraday high points. It is not recommended to chase shorts at the current position, as the RSI shows a low-level oscillation pattern, which may lead to a potential oversold rebound at any time! The KDJ indicator shows the three lines turning down at the top and intending to converge, with the main strategy being to focus on high shorts!

Selling Points:

• Light short at ≥90,500, stop loss above 91,700.
• Take profit at 89,500 - 88,500 - 87,500.
• If it breaks 87,000, it can be left open.

Buying Points:

• Light long at ≤87,500, stop loss below 86,500.
• Take profit at 88,500 - 89,500 - 90,500.
• If it breaks 91,000, it can continue to see around 92,000.

The article review and push have delays; the above points are for reference only. Please grasp the timing of buying and selling yourself, and ensure proper risk control when entering the market. Do not operate with heavy positions! Thank you for reading!

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Thus, our journey in the cryptocurrency world begins to step into a broader new starting point, and it is by no means an endpoint, as the road is still long and must be walked step by step! The ocean of cryptocurrency is vast and boundless, filled with opportunities and challenges. I hope you will always maintain a thirst for knowledge and a spirit of exploration in the days to come. Remember, the cryptocurrency world is not just about numbers and charts; it is also an art about humanity, decision-making, and the future. In investing, maintain rationality and calmness, do not be swayed by short-term fluctuations, and view the market with a long-term perspective. Keep learning and improving your professional skills. Knowledge in the financial field is constantly updating; only through continuous learning can you keep pace with the times and seize every opportunity. Be brave to try and innovate. Do not fear failure, as every failure is an opportunity for growth. In the world of cryptocurrency, the brave often carve out their own territory. Finally, I wish you all shine on the stage of cryptocurrency, realizing your value and dreams. Wherever and whenever, Hongjie cheers for you and looks forward to your wonderful performance. Hongjie wishes everyone smooth sailing on the cryptocurrency journey and a bountiful return!

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