1.6 Monday Analysis

Recently, the price trend of Bitcoin has shown a sideways fluctuation. There has been no significant change in the overall structural pattern. From a daily perspective, the bullish trend is still ongoing, and the price has maintained a stable footing after breaking through the mid-range area. Although there have been some pullbacks during this period, the price of Bitcoin has not fallen below the mid-range area, and there has been no obvious continuation of a downward trend.

On a short-term level, Bitcoin has seen a slight rise followed by a bearish pullback. The moving averages show a downward trend, and the MACD volume has not been adequately released on the bullish side, leading to a slight price decline. From a short-term structural perspective, there is still a demand for downward movement in the cryptocurrency price. However, from a larger directional view, our outlook remains bullish. Therefore, for subsequent operations, we can participate around the lows to seize possible upward opportunities. Overall, the market trend still requires cautious observation to make informed decisions.

btc: 97300-97800 buy, target 99000-100000-102000

eth: 3590-3620 buy, target 3640-3680

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