Analyst says BTC target price is the monthly opening price of around $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 at the monthly opening of about $87,600, and has set two take-profit points. BTC has support near $90,500; if there is a strong rebound and reversal, the short position will be closed. If BTC breaks above approximately $96,500, the outlook will turn bullish.