1.29 Thursday Morning Outlook | Upper Resistance Dense, Focus on Shorting During the Day

Market movements often unfold quietly in the dead of night, even if you want to stay fully engaged, you may not have the energy. Overnight, Bitcoin repeatedly rebounded but was resisted around 90500 and pulled back; near 88800, it formed two brief supports, indicating that the short-term range-bound trading continues. Yesterday, multiple signals to short above 90000, with a successful short-term target of over 1000 points, and the price has now returned to around 89300 for consolidation.
From the market structure perspective, short-term resistance above remains obvious, with no effective breakout, making upward space difficult to open. In the short term, a low-buying strategy is possible, but the overall trend remains bearish. Although there are signs of some recovery on the four-hour chart, the price has reached near the upper Bollinger Band, with insufficient momentum and lack of continuation, making the rebound more of a correction rather than a reversal. The morning outlook remains unchanged—mainly shorting on rebounds.
Operational reference:
Bitcoin (BTC): Short near 88700 / 90300, target 88600–87800
Ethereum (ETH): Short near 3015 / 3035, watch 2960–2900 below
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