1.15 Morning Market Analysis

Market sentiment has recently shifted to a more positive outlook, with buying pressure continuously increasing, driving prices higher. Bitcoin is showing a strong upward trend, approaching the key level of 98,000. Last night, the price peaked around 97,900, followed by a technical correction. Currently, it is consolidating around 97,000, maintaining overall strength.

From the chart structure analysis, Bitcoin has completed its bottom confirmation and has begun to rebound. On the 4-hour chart, the price is moving along the upper band of the Bollinger Bands, with limited and quickly absorbed pullbacks; the Bollinger Bands are opening upward, and the moving averages are arranged in a bullish alignment. Trading volume is also supporting the trend, indicating a short-term bullish outlook.

It is worth noting that the current price has entered a resistance zone formed by the previous high and an integer level, with the upward momentum slowing down. At this point, chasing the high carries higher risk. In a trending market, it is more important to focus on entry timing—patiently waiting for a pullback and stabilization before entering is often a safer strategy. Blindly chasing the rally can easily lead to a passive position.

Trading Suggestions:
Short near 96,900-97,500 after a rebound, with targets at 95,600-95,000; if broken downward, look further down to 93,500.