Good morning and Happy New Year! Let’s analyze the BTC chart: 1. Yesterday, when we analyzed, we mentioned it was a small rebound, but it turned into a big rebound. Why? Because the bottom of the big rebound had more funds accumulating. Typically, this is the pattern, but why was yesterday different? My guess is that the main players kept pushing while the bears refused to give up and kept increasing their short positions. So, the main players kept pushing harder, determined to crush the bears. 2. During last night’s rise, the main players were pulling up the price while simultaneously offloading their positions. That’s why you saw the chart keep climbing, but funds were continuously flowing out. This is rare—usually, the chips bought aren’t sold off until the top is reached and then dumped all at once. This also confirms the earlier judgment: the main players noticed people kept adding short positions, so they kept turning back to counterattack. 3. Looking at ValueScan, the accumulated funds only started piling up after the last wave pushed to 909. In other words, funds only accumulated after reaching the top. My guess is that those who missed out on the rise started buying during the pullback, optimistic about the market outlook. This is the opposite of the usual pattern, where funds accumulate before the rise. Instead, this time, funds accumulated after a major pullback. 4. Starting from midnight on January 3rd, the funding rate turned negative, which also indicates that during the rise, people kept adding short positions. In the short term, the bears outnumber the bulls. 5. What’s next for the market? If BTC can hold above 904 for 2-3 days without breaking down, and if more than half of the accumulated funds don’t exit, I’ll lean bullish in the short term. Otherwise, if it can’t hold, the price will likely continue to drop. Let’s keep observing the chart and fund flows over the weekend. 6. For a healthy rise, hitting key resistance levels requires a pullback to critical positions before continuing upward. 904 is a key resistance level. Regardless of whether it holds or not, there should be a pullback. Possible pullback levels are around 887 and 879. (Short-term market analysis, valid for only a few hours to a few days. Not financial advice. http://(valuescan.io)/login?inviteCode=A6VUDJ)