1.10 Friday Early Morning Bitcoin Market Analysis
During the intra-day trading period, Bitcoin overall demonstrated a weak consolidation market trend. Starting from the high point of 95338, it faced pressure and began to pull back, with the price declining to a low of 91747. However, at this key position, the market welcomed a rebound force, and the price gradually rose to the high point of 94644. Ethereum mainly oscillated around the range during the day, with a relatively stable trend. By the evening, it started to drop from around 3325, and the price continued to decline until it halted at 3208, subsequently rebounding and rising to the high point of 3337. Throughout the day, Old Zhang laid out four positions, with two long and one short for Bitcoin, gaining a total of 4500 points, and one long position for Ethereum gaining 100 points.
From the four-hour chart analysis, we can clearly see that the area around 92000 is a key position where multiple previous stop losses and rebounds occurred. After the market fell to 92500 yesterday, it also began to rebound, reaching a maximum rebound of around 95300; however, it did not stabilize to return to the upward trend. We need to continue monitoring the support situation around 91500. If it drops again but does not break this support level, the market will continue to show a rebound, with the rebound pressure level above at 94700. The positions to watch above are 95300 and 97300. To return to a bullish trend on the four-hour level, it still needs to break through 95300 and have a closing line; only then can it be confirmed as a short-term stop loss signal. Once it breaks through 97300, it will return to a bullish trend.
Bitcoin: Can go long around 93000, short-term target 95300
Ethereum: Can go long around 3240-3260, short-term target 3400
