On January 8th, crypto analyst Lennaert Snyder stated that the price of BTC had fallen to approximately $91,000, and had also broken below the support level of approximately $92,155 on the 4-hour chart, confirming the downward trend. The analyst himself stated that he was looking for short opportunities, with a final target price of approximately $87,600, the monthly opening price (two take-profit levels were set during the low-point movement).
Furthermore, BTC price has support around $90,500. A strong rebound and reversal at that level would close short positions. If BTC successfully breaks through approximately $96,500, the outlook will turn bullish.
