January 27 Midday Market Analysis: Oversold Rebound Fades, Focus on Shorting at Highs

Yesterday afternoon, the crypto market experienced a rapid decline, with Bitcoin dropping to around 87,000 and Ether falling below the 2800 level. Market panic briefly intensified. Subsequently, the market began a oversold correction, with Ether showing strong resilience and a short-term rebound breaking through the 2900 level; meanwhile, Bitcoin's rebound was weak, remaining under pressure below 89,000 and failing to break through effectively. Currently, the two major cryptocurrencies are entering a narrow consolidation phase, and overall market sentiment remains bearish.

Considering the current macroeconomic environment and technical signals, until the moving averages' bearish alignment is fully reversed and macro uncertainties are fully digested, the market is likely to maintain a volatile and weak trend. In terms of trading strategy, it is recommended to stay cautious, avoid blindly bottom-fishing, and focus on shorting at resistance levels after rebounds are blocked.

Trading Suggestions: BTC short at 88,700-89,000, target 87,000-86,000
ETH short at 2,950-2,960, target 2,850-2,800. #内容挖矿焕新公测开启 #中东局势升级 #加密市场结构法案出现转机