1.13 Tuesday Morning Bitcoin Market Analysis

On January 12th, Bitcoin's 1-hour chart showed a wide-range fluctuation. After dipping to 90082 in the early session, it stabilized and rebounded, with the intraday high reaching 92488. Subsequently, the bullish momentum weakened, and the price gradually declined, oscillating around the 91000 level, ultimately closing at 91333. The overall trend exhibited a pattern of bottoming out, rebounding, then retreating.

From a technical perspective, Bitcoin surged to 92488 but failed to hold above the key resistance level of 92000. The 1-hour candlestick closed with consecutive bearish (downward) candles, and the MA7 moving average turned downward, forming resistance. The bullish momentum has clearly diminished. Additionally, the 92000 level shifted from support to strong resistance, with multiple attempts to break through unsuccessful, indicating heavy selling pressure at this level and limited upward space. Moreover, during the rally, trading volume did not increase proportionally, while during the correction phase, volume slightly rose. Combined with the initial signals of a bearish alignment in the moving averages, it is expected that the price will likely retreat to the 90000-90500 range.

Trading suggestion: Buy at 91800-92300, target 90800-90300.