Preface: Investment involves risks, please proceed with caution.
Article review takes time, and there may be delays in publication. The article is for reference only. Welcome to read!
Time of writing: 14:02, January 18th, Beijing time
Market Information
- Monetary Authority of Singapore: Bitcoin spot ETF cannot be listed in Singapore;
- Circle CEO: SEC approval of Bitcoin spot ETF will increase the popularity of Bitcoin;
- CNBC host: SEC's approval of Bitcoin spot ETF does not mean support for these products;
- Federal Reserve Beige Book: There has been almost no significant change in economic activity;
- The swap market has lowered the probability of a Fed rate cut in March to about 50%;
Market Review
Yesterday's market performed a slight decline as expected. The price of Bitcoin dropped to 42192, which is close to the predicted range of 42100-41700. The market did not continue to decline but rebounded, leaving a relatively long lower shadow. Yesterday, it was suggested that when the lower shadow is formed in this range, layout long positions for short-term holding. Ethereum also experienced a decline last night, with the price dropping to 2505, reaching the predicted range of 2520-2500. After not breaking through 2470 and forming a lower shadow, it was suggested to layout long positions when the lower shadow is formed in this range. Intraday trading should focus on layout in a volatile manner.
Market Analysis
BTC:
Looking at the 4-hour chart, Bitcoin's decline yesterday reached our predicted target area and formed a lower shadow. In the short term, Bitcoin formed a small upward channel, and the decline did not break through this channel. It is expected that Bitcoin will reach around 43700, and if the market breaks through, it will change the trading strategy. After the rebound, attention should still be paid to the situation near the high point of 43700. If a upper shadow is formed, the market will return to a volatile trend. Currently, we are waiting for this breakthrough, and traders should grasp the entry opportunities and control risks for short-term trading.
ETH:
Looking at the 4-hour chart, Ethereum's trend is similar to Bitcoin's, with a decline to the predicted target range yesterday and forming two lower shadows. The short-term trend is also in a small upward channel, and the closing price at the bottom of the channel does not indicate a significant rebound during the day. It is expected to reach the range of 2590-2640, and if the price reaches around 2640 and forms a lower shadow, the market will return to a volatile trend. In the near future, traders should wait for the market to break through and control risks for intraday trading.
In summary:
Bitcoin and Ethereum continue to trade with a volatile strategy in the short term, and new layouts will be made after the breakthrough.
The article is time-sensitive, pay attention to the risks, and the above is for reference only!
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