2026-01-23 00:18:19

Morning Analysis

Bitcoin 4-hour: Continuous decline with quick retracement, multiple tests of support followed by narrow-range consolidation at lower levels. The sideways movement is a technical correction after a pullback, with sufficient support below; Bollinger Bands are continuously narrowing, indicating the end of consolidation and a potential direction change.
Hourly chart: After breaking below the lower band with a large bearish candle, two consecutive bullish candles appeared in rebound. The long shadow indicates intense battle between bulls and bears. Bearish momentum is weakening, and the three lines of KDJ are converging with a potential golden cross. Short-term outlook is firmly bullish, and a pullback to buy on dips is recommended.
Trading Suggestions
Go long around 88,300-88,800 for Bitcoin, with targets at 90,300-90,800.
Go long around 2,890-2,920 for Ethereum, with targets at 3,090-3,120.

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