Market Overview:
US stocks and US bonds are closed. ECB officials continue to suppress expectations of interest rate cuts, and European stocks and bonds fell, with mining stocks falling more than 1%, leading the decline in European stocks; German bond yields rose, with the yield on 10-year German bonds approaching a four-week high. The US dollar index rose for two consecutive days.
Crude oil fell from a one-week high, with US oil falling 2% at one point during the day, but later narrowing most of the decline. European natural gas plummeted by more than 8% during the day, closing down by at least 6%, hitting at least a five-month low. London copper rebounded from a four-week low, while London tin rose for the fourth consecutive time; gold rose for two consecutive days.
Market Review:
Yesterday, US stocks were closed for Martin Luther King Jr. Day, and BTC traded within a narrow range throughout the day, with a daily fluctuation of 1600 points, showing the expected volatility.
As shown in the chart: After reaching a high of 49000, the price quickly fell back, and the short-term price stabilized above the 4-hour trend line. The Bollinger Bands are narrowing, waiting for a direction to be chosen, whether to go up or continue the strong bearish trend?
Market Outlook:
As shown in the chart above, in the case of the trend line not being broken, the short-term outlook is optimistic for a small rebound. Although the recent sharp decline from 49000 was intense, the overall situation shows that the sharp decline accurately stopped above the trend line, and the bullish trend did not deteriorate. Therefore, a small rebound is expected in the short term.
For more accurate entry prices and real-time price opportunities, please pay attention to Pionex's real-time prompts during the market follow-up analysis!
The recent market changes are fast and the volatility is high, so risk management is necessary for trading! If there are any price changes during the trading session, or real-time price opportunities, Pionex will provide real-time prompts to everyone!
All analysis and judgments are probabilistic predictions. The market carries risks, so speculation should be cautious!
All analysis and judgments are probabilistic predictions. The market carries risks, so speculation should be cautious!
All analysis and judgments are probabilistic predictions. The market carries risks, so speculation should be cautious!
2024.1.16
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