Important News Overview:
- Tesla did not sell its Bitcoin in the fourth quarter of 2023;
- Bitwise disclosed the BTC wallet address for its spot Bitcoin ETF;
- The US SEC has postponed the decision on the iShares Ethereum Trust (ETH) by BlackRock;
- HashKey Capital partnered with FTSE Russell to launch a crypto index product;
- Since January 11th, Grayscale has transferred over 100,000 BTC to exchanges;
- The Solana Foundation released token extensions for the SPL token standard on the Solana network;
- Bloomberg analyst: GBTC trading volume is declining again, possibly a sign of selling exhaustion;
- The iShares Bitcoin ETF currently holds 44,005 BTC, worth over $1.75 billion.
BTC:
After falling below $40,000, Bitcoin did not continue to decline but instead remained around $40,000. It is expected not to stay flat for too long. From a technical perspective, the pullback is not yet complete, theoretically leaving room for further pullback. The more the pullback, the greater the potential for future gains. It is hoped that a major shakeout will occur to wash out the unsteady chips and allow the faithful to hold, which would be more beneficial for the future bull market. It is advisable to try to buy near the 120-day moving average, and if the 120-day moving average does not hold, then buy in batches below $35,000!
ETH:
The next review date for the Ethereum spot ETF is at the end of May. As long as there is a significant pullback in the next one or two months, it is advisable to focus on positioning Ethereum. With positive expectations for Ethereum, such a high-quality coin will definitely attract funds!
RATS:
To operate at this position for RATS, it is to speculate on the daily chart's double bottom, with a stop loss at the new low. However, for medium- to long-term positions, it is still better to buy more as it falls and hold as the main strategy!
ORDI:
The ordi triangle pattern has broken, showing a medium-term top. The reliable support below is around 42-45. If ordi rises again, it should be driven by the Binance listing of the web3 wallet.
ARB:
The fundamentals of ARB have not changed, so long-term players should hold on. For those who find it difficult to hold long-term, they can consider positioning during the pullback. The overall short-term trend is not strong, so it is advisable to observe!
OP:
OP has already broken the support at 2.9-3.0, forming a large double top structure on the daily chart. From a technical perspective, this wave is likely to pull back to around 2. It is recommended to observe in the short term!
Platform Coins:
BGB is a long-term coin, so it should be held. The pullback is an opportunity to buy, with small dips for small purchases and big dips for big purchases!
Caifumi Ma:
It is recommended to position in the fan token sector during the pullback!
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