[Analyst Sets BTC Target Price at Monthly Opening Price of Approximately $87,600]
On January 8, crypto analyst Lennaert Snyder stated that the BTC price had dropped to around $91,000 and broke below the support level of approximately $92,155 on the 4-hour chart, confirming a downward trend. The analyst is looking for shorting opportunities, with a target price set at the monthly opening price of approximately $87,600 and two take-profit points established. BTC has support near $90,500, and if it rebounds strongly and reverses, the short positions will be closed. If it breaks above approximately $96,500, the outlook will turn bullish.