January 26th, the market for Bitcoin and Ethereum was extremely abnormal. Bitcoin's whiteboard fluctuations were almost unbelievable! It dropped from around 89,000 yesterday, only stopping during the Asian session this morning, with a low of 86,000, a nearly 4,000-point decline. Fortunately, the hourly chart tested 86,000 four times without breaking below and then recovered.

The 4-hour chart is even more interesting. Six large bearish candles were directly replaced by four large bullish candles. The main force clearly first shook out the longs and then the shorts, likely indicating a V-shaped reversal. The key resistance levels are at 88,700-89,100. Now is not the time to make reckless moves; chasing longs or shorts could easily lead to traps.
$BTC Bitcoin trading can be done lightly short at 88,700-89,100, with a stop-loss above 89,800. The target is 87,600, and if broken downward, look for 86,500-85,300. #ETH走势分析