The 91,500-92,000 range is critical—it serves as both the lower support of the preceding consolidation zone and coincidentally corresponds to the rebound high point from the early morning of January 8th. From a daily chart perspective, this is also where the 30-day moving average resistance is positioned. After price broke below yesterday, the technical characteristic of "support turning into resistance" has been validated. When the early rebound attempted to break through, it was blocked right at this level, followed by a pullback.

Looking at the hourly chart, the situation is not optimistic. We've seen a typical bearish pattern of "lower highs and lower lows," indicating weakening buying pressure. Regarding the MACD indicator, the fast and slow lines continue to diverge below the zero line, with green bars still expanding, creating a strong bearish sentiment. The moving average system has turned downward, forming a standard bearish alignment. Although RSI has rebounded to the 55 neutral zone, it's immediately showing weakness again, reflecting insufficient momentum for a sustained rebound.

From an operational perspective, BTC can be shorting within the 92,000-91,500 range, targeting around 89,000. ETH follows similar logic—shorts can be positioned between 3,210-3,180, with downside targets around the 3,070 level. The current rhythm suggests a higher probability of rebounds being blocked and the market pushing lower again.