January 9, Thursday, good afternoon, brothers!
✔️ Market Review and Analysis
The market really plays with the retail investors. December saw a month-long correction, and the confidence built in early January was wiped out in just two days. Starting from the 2nd, it rose but only lasted a week; in just two days, everything reverted. Initially thought that if Bitcoin broke $100,000 it would continue upwards, but ultimately external factors brought it down. Compared to all altcoins, they fell sharply, and the AI concept surged quickly but corrected fiercely. Retail investors who chased high prices got trapped. Last night the market plummeted rapidly, with BTC dropping to 92500 and ETH around 3200. It then began to rebound, but the rebound was weak. As of now, the price of Bitcoin is around 93800, and Ethereum is around 3310. The U.S. stock market is fluctuating, and the Federal Reserve's meeting minutes suggest a pause in interest rate cuts. Almost all decision-makers believe that Trump's policies may boost inflation. The intraday market continues to show a trend of fluctuating downward, and the short-term market needs to endure! However, we can pay attention to tomorrow's unemployment rate announcement; a low unemployment rate will lead to further declines, while a high rate will cause a rise. This round of downward trends has some external bearish factors, and part of it is due to Powell's interest rate cut not meeting expectations!
Intraday Resistance and Support
Btc Resistance 94300/95000/95800
Support 93500/92800/92000
Eth Resistance 3350/3420/3500
Support 3300/3250/3200
✔️ Spot Market and Primary Market
In the primary market, Brother Yu has also been quite active these days. As always, one must seek information actively; timing is crucial. At the same time, one should dig for information sources. Many low-tier coins cannot share information. As the year ends, there are many entrepreneurial projects, but there are also opportunities to make money. A new on-chain primary group will be established in the next few days.
In the spot market, there’s no doubt that this round has basically reverted everything. Everything was brought back in just two days, and of course, one can only continue to hold. The rebound still needs Bitcoin to lead! However, given the current trend and pace, with Trump's administration imminent, it should be a positive sign for the crypto space. Friends with more capital may consider buying more, and others can just hold what they have. The focus remains on the artificial intelligence sector, which has seen a significant correction. After all, NVIDIA has become the largest company in the world, and AI concepts will continue to be hyped.
Recently, Brother Yu has been promoting Pingo, which belongs to the first depin and AI concept on the Ton chain. Currently, its circulating market value is not large, and it is gradually being listed. The short-term target is above $1, and the long-term view is $3 to $5. Small funds can engage in speculation; it’s not a short-term play.
Other spot concepts can only wait for the market to rise; otherwise, the more you operate, the more you will lose. As the end of the year approaches, it’s better to minimize activities to ensure a peaceful New Year!