January 23 Afternoon Thoughts:

From a technical structure analysis, observing the 4-hour K-line trend, it is clear that the recent market has always been in a weak pattern. The price of the currency has been declining continuously, constantly setting new lows. Even when there are occasional rebounds, the strength is extremely limited, making it difficult to form a sustained upward trend. Various signs indicate that the bullish counterattack lacks sufficient support in the short term, and the subsequent trend is likely to maintain a downward posture, so a continued bearish outlook is recommended.

From the hourly K-line trend of Bitcoin, it is currently in a state of slow decline, with the price gradually going lower bit by bit. During this time, there was a quick drop followed by a rapid rebound, but it soon returned to the slow decline rhythm. As the saying goes, "slow declines do not hit the bottom"; usually, only by ending this hourly decline trend, such as experiencing a rapid drop or an upward trend, will the subsequent market direction become clearer.

Looking at the daily level, a small bearish candle has formed, with trading volume significantly reduced compared to the previous two days, and also noticeably low compared to last week's average daily trading volume, showing an overall trend of decreasing volume and downward adjustment.

Short on the first coin around 102700-103200, target near 101000.

Short on the second coin around 3240-3260, target near 3180.

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