Wednesday morning thoughts for 1.21: In a strong bearish trend, follow the trend accordingly.

Overnight, the market once again was in chaos, with Bitcoin effortlessly breaking below the 90,000 mark and continuing down to around 87,800. Recently, we have been consistently bearish and shorting, and we are now well-fed and satisfied.

Currently, the bearish trend is obvious. The daily chart closed with another large bearish candle, and all timeframes still show a bearish alignment. The 4-hour chart shows a waterfall decline, with a strong downward momentum that seems unstoppable. In this context, there is no support below, so today’s focus remains on short positions.

In the morning, consider shorting around 89,000-89,500, with targets at 87,000-86,000.