1.7 Morning Analysis

Recently, Bitcoin surged to 94,400 then quickly fell back to 91,200. Currently, it is rebounding around 93,500, but the 1-hour chart shows strong resistance in the 94,500-94,800 range, with multiple rejections without breaking through. Technically, the MA7 and MA30 moving averages are forming a death cross downward, indicating insufficient rebound momentum and divergence between volume and price. Coupled with Bitcoin being at a high level and profit-taking sentiment rising, short-term downward momentum is significant.

Trading suggestion: Consider short positions on rallies, watch the 93,800-94,000 resistance. If the rebound encounters resistance, consider entering a short. First support is at 92,000; if broken, look towards 91,000.

Trading advice: Short at 94,000-94,500, target 92,000-92,500.