January 10 Market Trend Analysis and Trading Suggestions
BTC Bitcoin 4-hour K-line Trend:
Upper Resistance Level: Around 93770 to 95470
Lower Support Level: Around 89100 to 91060
ETH 4-hour K-line Trend:
Resistance Level: Around 3255 to 3316
Lower Support Level: Around 3108 to 3185
Technical Analysis:
1. Bitcoin's 4-hour cycle K-line shows a slight increase in volume (as of 7:09 AM), with the 4-hour K-line price dropping to the double bottom around 91582 and rebounding slightly. Currently, the volume performance is poor, and the rebound is weak. Please pay attention to the upper pressure range around 93770 to 95470;
2. The trend indicator for Bitcoin on cycles shorter than 12 hours shows a bearish resonance, suggesting a short-selling strategy on rallies;
3. The MACD indicator for Bitcoin on cycles shorter than 12 hours also shows a bearish trend. The 2-day line MACD indicator is exhibiting an oil leak pattern in a bearish trend. The KDJ indicator is below 50 and has crossed downwards, indicating a downward trend. It is expected that the price will continue to decline in the future. The short-term trading strategy is to short on rallies. If the price retraces and rebounds to the short-term 15-minute or 30-minute EMA60 moving averages, double top pattern, or important neckline resistance level, it will be the best opportunity to enter short positions. If a bottom divergence pattern appears in the short cycles of 15 minutes or 30 minutes, consider entering long positions with a light position for small wave profits – trading on the bottom divergence pattern is counter-trend and should follow the principle of quick entry and exit, taking profits when available, and securing gains (please remember to set stop-losses and take safety precautions with three measures to release positions) (Contract Thinking)
Non-farm payroll data will be released tonight at 21:15, likely leading to fluctuations and consolidations. Please pay attention to risks!
The above market analysis and trading suggestions are for reference only!
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