January 31 Bitcoin Market Overview: Bearish trend continues. #比特币

Figure 1

(1) The current market is on a 12-hour timeframe. It can be seen that the price is consolidating around three low points. Pay attention to whether the price can effectively break below the previous low of 80,665. If it does, it indicates that the market is in the second wave of a downward move, a small wave. However, based on the structure, as long as it is not a strong V-shaped reversal, but rather a consolidation and correction, it is part of the bearish adjustment. Watch for the market to complete the third wave and reach the low area in the dense zone between 45,000 and 50,000. Currently, there is no upward trend, only small-scale corrections.

Figure 2

(2) The cautious logic is that the market has been oscillating above 80,665 without breaking below. Pay attention to the subsequent rebound after the bearish oscillation is exhausted. But at present, the market has not yet shown such a signal of adjustment.

Figure 3

(3) The current market position is on an hourly timeframe, located at point 1. The price is under pressure from the hourly trend (84,871). As long as it does not break upward, be aware that after a small-scale oscillation at point 1, the market may decline to complete the bottoming out, then oscillate within a range before falling again. You can also wait for a pattern to form on the smaller timeframe, with a stop-loss placed at 84,871 to catch the third small wave of the second major wave.

Figure 4

(4) The market is currently at point 1. If the price effectively breaks above the resistance level on the hourly chart, the next levels are 90-minute (85,527), then 2-hour (96,009), and later 4-hour (87,437). This indicates that the small to medium correction wave is breaking down, requiring a broader adjustment zone. The downtrend may be disrupted, and further observation is needed.

Figure 5

(5) The current market is on a 15-minute timeframe, located at point 1, which is under the 1-hour resistance. After a 15-30 minute correction, if the price cannot rebound quickly (or induce a false breakout), and breaks below the 15-minute range of 83,509, it signals the start of a downward trend.

Summary: The larger timeframe is in a correction within a downtrend. During rebounds, consider shorting at high points. Be cautious and wait for small patterns to emerge. Low positions should be approached with trend-following strategies. As for the bullish scenario, it is only a correction retracement.