BTC Cycle Breakdown (January 9)

The weekly chart is quite interesting. The trend has been mostly consolidating sideways, with the KDJ indicator turning upward, and the divergence structure becoming clearer. From a technical perspective, there are signs of a bottom. But we still need to see if the rebound can truly stabilize, which requires time to verify. Any fluctuations in the fundamentals should also be monitored.

Looking at the daily chart, the short-term upward trendline has been broken, and now the price is oscillating between the 5-day and 10-day moving averages. Consecutive bearish candles indicate that the bulls haven't had much strength lately, suggesting a short-term correction phase.

The 4-hour chart reveals more clues. The MACD is still below the zero line, but as the histogram expands and then begins to contract, it often indicates that the bearish momentum is weakening. The downward momentum may be nearing its end. For intraday trading, the strategy is to wait for a pullback to find a low entry point, mainly long positions, and avoid rushing in.

Watch the resistance around 94,000, and the support below is at the 89,300-88,300 range to see if it can hold.