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January 8th Bitcoin Market Outlook
The current price is near the lower Bollinger Band. After the Bollinger Bands contract again and then expand upward, there is a high probability of a move to the upside. The area near the lower band is an oversold zone for the Bollinger indicator, indicating a technical rebound demand.
Although the current DIF is below DEA and the MACD histogram is negative, it is important to observe for a bullish divergence signal—if the price continues to decline but the MACD green bars shorten or do not make new lows, the bearish momentum is rapidly weakening, and the bulls are starting to gather strength, which is a buy signal.
Bitcoin Trading Suggestion: Pullback to around 91,000-90,300, then look up to 92,000-93,500. If broken, continue to target higher levels.
Altcoin Trading Suggestion: Pullback to around 3,135-3,090, then look up to 3,200-3,300. If broken, continue to target higher levels.