1.12 Evening Bitcoin and Ethereum Trading Suggestions and Market Outlook

Good morning everyone! It's Monday again. Lao Zhao is back at work. Looking at the current market, the 4-hour chart shows that the market is currently dominated by two consecutive bearish candles. After a rally to around 91,252 in the evening, it pulled back and is now oscillating below the middle band of the Bollinger Bands. The upper band resistance is around 91,000, and the lower band support is around 90,500. The Bollinger Bands are gradually narrowing, indicating a decrease in short-term volatility. Currently, Bitcoin is in a low-range oscillation and adjustment phase.

From the 1-hour chart perspective, after a rally to around 91,250 in the evening and encountering resistance, it strongly retraced to around 90,310 and stabilized. This indicates that the 90,000 level has been effectively defended and has strong support. The Bollinger Bands are slightly expanding, with the real body candles accompanied by clear lower shadows, suggesting solid short-term support below.

From the technical indicators, the KDJ indicator's three lines are below 50, not yet in the oversold zone, but the J line is turning downward, showing weak short-term momentum. The MACD histogram has shifted from green to red, indicating initial bearish momentum, but volume has not yet increased significantly. Overall, the current phase is a consolidation and low-building process. After this correction, a rebound and rally are inevitable.

For morning trading, the strategy should focus on buying on dips above key levels.
- Around 90,600 to 90,000 for Bitcoin, look for long entries, watch for 91,500.
- Around 3,110 to 3,080 for Ethereum, look for long entries, watch for 3,200.