1.7 Morning Thoughts
First, the conclusion: Zhenkang looks to high空, the structure is not broken, small on top and large on the bottom
Let’s first review the market. The upward trend from last night continued into the early morning, rising all the way to around 102300, testing around 102500 twice, but did not break through. It then fell to test the support at 101300. We can see that since early morning, the market has been oscillating between 101500 and 102500.
Looking at the daily chart level, a large bullish candle has stretched the 7-day moving average from around 97000 to around 98300. The 30-day moving average has stretched 400 points. Looking at the Bollinger Bands, the market price has broken through the upper band. Thirdly, looking at the MACD, the fast and slow lines are starting to show sustained bullish momentum. The daily level is moving relatively slowly. Considering Trump’s inauguration at the end of January, we will define it directly as a preliminary judgment. From a medium to long-term perspective, we are bullish, looking for an upward trend in the market.
Returning to the current market, according to the trading concentration area, there is a struggle between bulls and bears around the 101800 center. We focus on the short-term MACD indicators, which are all dominated by bulls in the market. In the short term, there is significant selling pressure above 102300. High selling and low buying; we boldly predict that there is no space above. Ignoring the short-term bullish dominant signals, oscillation is mainly in high空.
For Bitcoin, pay attention to 102300 above and look down at 101475.
For Ethereum, pay attention to 3735 above and look down at 3635.
