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Bitcoin January Trend Analysis
First, let's talk about Ethereum. After peaking at 4100 in mid-December, Ethereum retraced by a thousand points within a week to around 3100. However, the rebound was strong, with a nearly four-hundred-point rise to 3540 on the 21st, opening up the subsequent oscillation range. After falling back to around 3200, it began to form an ascending triangle structure on the four-hour chart. There are many possibilities throughout this process, and the key points to note are the contest at the turning points of 3400 and 3340.
Bitcoin's structure is relatively poor because the liquidity was particularly bad during the contest at the turning point on December 29, leading to the most reasonable possibility being a wide oscillation and consolidation, which in reality has been quite similar. Yesterday, the wide range of 98200 mentioned for Bitcoin was also pierced, and after breaking the resistance of 3545 mentioned for Ethereum, it surged for a while. The reason Ethereum has risen so violently in this round is that Bitcoin is washing out positions, while Ethereum is consolidating its range in preparation. Overall, it is liquidating short positions in the clearing range and does not indicate that the market will continue to strengthen.
Currently, there is another contest at the turning point in the structure. We won't elaborate too much on the future market, but there are two points to pay attention to: whether the descending channel of Bitcoin is pierced or lifted, and we need to complete this consolidation phase first. Ethereum is also about to finish this rebound, already under pressure, and with decreasing trading volume, the momentum is slowing down. Whether we see another rebound or a death cross liquidation also requires observation.
Currently, above Bitcoin, we need to focus on the ranges around 99300 and 98400, while below we need to monitor 97600-96400-95200. If the previous box is pierced, it will likely drop further.
For Ethereum, we need to focus on the upper range of 3620-3650, and below we should monitor the previous box around 3540-3500-3440.
#BTC走势分析 #btc
First, let's talk about Ethereum. After peaking at 4100 in mid-December, Ethereum retraced by a thousand points within a week to around 3100. However, the rebound was strong, with a nearly four-hundred-point rise to 3540 on the 21st, opening up the subsequent oscillation range. After falling back to around 3200, it began to form an ascending triangle structure on the four-hour chart. There are many possibilities throughout this process, and the key points to note are the contest at the turning points of 3400 and 3340.
Bitcoin's structure is relatively poor because the liquidity was particularly bad during the contest at the turning point on December 29, leading to the most reasonable possibility being a wide oscillation and consolidation, which in reality has been quite similar. Yesterday, the wide range of 98200 mentioned for Bitcoin was also pierced, and after breaking the resistance of 3545 mentioned for Ethereum, it surged for a while. The reason Ethereum has risen so violently in this round is that Bitcoin is washing out positions, while Ethereum is consolidating its range in preparation. Overall, it is liquidating short positions in the clearing range and does not indicate that the market will continue to strengthen.
Currently, there is another contest at the turning point in the structure. We won't elaborate too much on the future market, but there are two points to pay attention to: whether the descending channel of Bitcoin is pierced or lifted, and we need to complete this consolidation phase first. Ethereum is also about to finish this rebound, already under pressure, and with decreasing trading volume, the momentum is slowing down. Whether we see another rebound or a death cross liquidation also requires observation.
Currently, above Bitcoin, we need to focus on the ranges around 99300 and 98400, while below we need to monitor 97600-96400-95200. If the previous box is pierced, it will likely drop further.
For Ethereum, we need to focus on the upper range of 3620-3650, and below we should monitor the previous box around 3540-3500-3440.
#BTC走势分析 #btc
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BTC
102,090.39
+3.85%
ETH
3,670.2
+0.83%
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