#BTC 1.23 Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions

The current market chart clearly shows a technical pattern of "weak rebound and sideways consolidation." After experiencing a sharp decline, Bitcoin and Ethereum's volatility has temporarily contracted, but the market's recovery is only superficial. The bearish momentum has not dissipated; instead, it has entered a more covert buildup phase.

From a key technical perspective, the 4-hour chart shows prices continuously constrained by the middle Bollinger Band. Each attempt to push higher is met with decisive selling pressure, with rebound highs gradually declining, indicating that the bullish momentum is waning. More importantly, the 1-hour moving average system has formed a standard bearish alignment: MA7 crossing below MA30, and prices repeatedly encountering resistance and falling back at the critical psychological level of 90,000, indicating that the market's inherent selling willingness remains strong. Currently, there are no effective bottom divergence signals or structural strong support signals on the chart. The so-called "oscillatory recovery" appears to be a process of using time to create space, accumulating signals for the next wave of bearish force.

Overall, the current narrow-range oscillation is not a bottoming signal but a consolidation within a bearish trend. Until prices effectively stabilize above key moving averages and show volume-supported reversal signals, the overall weak market structure is unlikely to change. In terms of trading, caution should be maintained. Rebounds are merely tests of resistance rather than trend reversals, and bottom-fishing blindly is not advisable. The market's "time grinder" is slowly eroding the remaining bullish patience and accumulating energy for the next directional breakout—under the current technical structure and market sentiment, the probability of a downward breakout is gradually increasing.

In the afternoon, Bitcoin can be shorted near 90200, with a target of 88500.
Ethereum can be shorted near 2970, with a target of 2860.