1.7 Evening Market Analysis

Bitcoin's 1-hour chart has experienced a sharp selloff from the 94415.4 high point, reaching a low of 91549.9, representing a decline of 1.83% from the peak, with net fund outflows of $350 million. From a technical perspective, MA7 and MA30form a bearish alignment, with price continuing to trade below the moving averages. Although the KDJ indicator shows signs of a low-level reversal, K and D values remain in the weak zone below 30. Trading volume surged significantly during the decline but shrank notably during rebounds, indicating that selling pressure far exceeds buying support. Combined with the upcoming release of US December ADP employment and ISM non-manufacturing PMI data this evening, risk-averse sentiment is rising. It is expected that Bitcoin will have difficulty reversing the short-term downtrend in the near term. Focus on the key support level at 91209.0 from previous lows. A break below this level may lead to further exploration of the 90000 round number level.

Trading Suggestion: Short 92500-93000, targets 90800-91000.