Market Trend Analysis for January 3rd

Looking at the candlestick performance, BTC's recent movements are quite interesting—first dropping to a low of 89,866, then quickly rebounding to 90,073. The bulls are trying to recover from the previous decline, which is normal. However, to truly turn the tide, the rebound needs to break above the 90,150 level.

Looking further up, 90,456 is the previous high and a tough nut to crack. The most realistic expectation now is to see the price fluctuate within the 89,900-90,150 range; don’t get too optimistic before a breakout. If luck isn’t on our side and it falls below 89,866, be prepared to watch the 89,800-89,700 levels. Conversely, if it holds above 90,150, pushing towards 90,300-90,456 is not impossible.

In simple terms, the rapid drop from 90,456 hasn't fully played out yet. The current rebound can only be considered a correction within the downtrend, and the bears still hold the advantage.

How to play it? Bulls can consider entering small positions between 89,800-90,000 with targets around 90,350-90,500. Conversely, bears should look to short when facing resistance at 90,350-90,500, with a stop-loss around 89,800-90,000.

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