Is my friend losing money? Why are they so resentful? 🤡
crypto 小白
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January 6th Bitcoin Morning Analysis
I have been on a business trip for the past two days and haven't looked at the market much. Today, I will do a brief analysis. Looking at the weekly chart:
We can see that the naked candlestick has somewhat regained the lost ground for the bulls, but the trading volume is not enough to support the price. The MACD has not turned bearish either, which is a sign of weak bullish performance. Let's look at smaller timeframes to see where the actual support and resistance levels are, and also review whether the analysis from January 3rd was correct. Daily chart level:
We can see that the market has started to consolidate, with support at 975. This price is our old friend. If it breaks 998, look for around 1027. The upcoming market should mainly be characterized by fluctuations, with both momentum and energy being weak. You might consider placing short orders near 998 and 1027, with stop losses at 1006 and 1034. For the long position mentioned on January 3rd near 962, observe the support situation at 975, with stop loss set at 972.
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