1.8 Thursday Night Bitcoin Market Analysis

The daily chart shows Bitcoin closing with a bearish candle again, forming three consecutive down days, confirming the continuation of the short-term bearish trend. The price has fallen back to the middle band of the Bollinger Bands and is oscillating around that area. The key support level at 89,000 faces a severe test tonight.

From a structural perspective, the market has returned to a daily box range. If the 89,000 support level is effectively broken downward, the price is likely to move toward the bottom of the box at around 85,000.

Evening trading strategy:
Short around 90,800, with targets at 89,000-87,000.