【January 12 Morning Market Analysis】

Last night, Bitcoin surged to 91200 but encountered obvious resistance and started to decline. This level has now established itself as a short-term resistance. The bullish momentum has clearly weakened, market selling pressure is increasing, and the current price is hovering near the key support at 90000. Once the 90000 level is broken, the short-term top will be basically confirmed, and the subsequent downside could target the 89300-89500 area.

**Morning Trading Strategy: Primarily Short Positions**

**Bitcoin**: When a pullback signal appears in the 91000-91800 resistance zone, consider opening short positions. The first target is the 90000 level; if it is effectively broken, hold on and aim for around 89000.

**Ethereum**: Short in the 3140-3170 range, with initial targets around 3090-3000.

Current macro factors such as US non-farm payrolls below expectations and widening trade deficits are putting pressure on the market. MSCI recently stated that digital asset treasury companies may be included, leaving room for long-term development, but in the short term, technical weakness signals should be more closely watched.

Continue to monitor the technical trends of $BTC, $ETH, and $BNB; managing risk is more important than anything else.