1.10 Cryptocurrency Market Plummets for Three Days, Today's Strategy Analysis

After experiencing three consecutive days of sharp declines, the cryptocurrency market continued to show a trend of fluctuating downwards on Thursday. Major digital currencies such as Bitcoin and Ethereum mainly hovered around the 95000 position during the day. However, as the European and American markets gradually gained momentum, the market began to fluctuate downwards and eventually reached around 92000, which aligns with our expectations.

Yesterday's Trading Review:

We initiated a low long position near 94300 in the morning and successfully exited near 94500 to go short, achieving our target and making some profits in the short term. Subsequently, we went short around 91800/3220, and as the market fluctuated upwards, we observed strong upward momentum and continuation, ultimately reaching 94600/3340. This operation once again netted us a profit of over 2000/120 points. However, in the early morning hours, the market turned downwards again, setting a new low at 91000.

Current Overall Market Analysis:

Trend: The market is currently in a moderate trend, and the price has touched the lower Bollinger band on the daily chart. 90000 is a crucial psychological support level for the current market. If the price breaks below 90000 today, we can continue to go short in line with the trend and look towards 86000. If the price can stop falling and show signs of reversal today, we can look towards the 95000 position.

Today's Strategy: Considering that non-farm payroll data will be released today, this will be an important market influencing factor. Therefore, we need to focus on the U.S. market trends. Around 92000/3200, we can attempt a low long position and set 91500/3160 as the defensive level. If the operation is successful, our target can be towards above 94500/3300.

It is important to note that market volatility is uncertain, and the above strategies are for reference only. In actual operations, we need to flexibly adjust based on real-time market movements and data, while strictly controlling risks. At the same time, we remind investors to remain rational and avoid blindly following trends or overtrading.

Cryptocurrency Insights, click on the homepage to follow me for potential hundredfold bull market coins deployment and daily spot strategy!