What is the current situation of the market in the evening of January 8? Let's take a detailed look.

From the 4-hour chart, Bitcoin has been continuously declining, and the Bollinger Bands are expanding, with the upper and lower bands diverging more and more. After breaking below the lower band, there was a rebound, attempting to correct the market, but this rebound momentum is really weak and cannot fundamentally change the current bearish dominance.

Looking at the 1-hour level, the situation is even more obvious. In the afternoon, it once dropped to a low of 89,588. The Bollinger Bands are opening downward, and the bearish force has an absolute advantage. The KDJ indicator's three lines are still hovering at low levels, and a golden cross has not yet formed, indicating that the short-term rebound is weak. As for RSI, the three lines are below 40 and have not entered the oversold zone, which means there is still room for further decline. The MACD indicator best illustrates the problem—both DIF and DEA are below the zero line, and the negative values are expanding, which is a typical signal of continued bearishness.

In summary, if the rebound gets stuck at the middle band and cannot break through, it is highly likely to continue probing lower, with targets around 89,000 to 88,500. Unless there is an unexpected breakthrough of the middle band and stabilization, a sideways correction may be possible.

**Evening trading strategy**: Focus on shorting during rebounds. Consider short positions around 90,900 to 91,400 for Bitcoin, with particular attention to the support at 89,000. For Ethereum, consider shorting around 3,140 to 3,170, with support at 3,050 below.