Market Overview
S&P hits a new all-time high, Nasdaq turned downward, and Dow rebounded to a new all-time high. Chip stocks fell during the session, dropping from the historical high at the close. AMD rose more than 1% and hit a new high, while Nvidia hit a new closing high for the sixth consecutive day, but fell during the session. Tesla saw its largest drop in a year after its financial report, falling by 12%. Google rose more than 2%, and both Microsoft and Meta hit new all-time closing highs. ASML European stocks rose by 4.6%, continuing to hit new all-time highs.
After the European Central Bank meeting, the two-year German bond yield plunged by more than 10 basis points, the euro turned downward, and the US dollar index surged, approaching a six-week high. After the US GDP was announced, US bond yields declined, with the two-year US bond yield dropping by 10 basis points at one point.
Crude oil rose by 3%, marking the largest increase in three weeks, and reaching a new high in nearly two months. LME copper and nickel rose for the third consecutive time to a four-week high. LME tin hit a new high for the fifth consecutive month. Gold rebounded slightly.
Market Review:
As shown in the BTC daily chart above, there was not much volatility yesterday, and the range narrowed again compared to before, with only a 750-point fluctuation during the day. The daily chart closed with a small bullish doji with long upper and lower shadows.
Yesterday's article suggested that everyone should mainly observe the market. Although we had real-time long positions during the session, due to the oscillation, the price fluctuation was too small, resulting in limited potential profits. By the early session, we only made a profit of around 400 points.
As shown in the BTC 4-hour chart above, we have mentioned multiple times in previous articles the pressure of the 4-hour Bollinger Bands' midline on short-term prices.
Currently, in the short-term oscillation and consolidation phase, the price has successfully risen above the midline and has entered a rhythm of oscillation and consolidation. The bulls have yet to show significant momentum. The price is still maintaining the rhythm of oscillation and consolidation.
Looking at the BTC daily chart in Figure 1, the price is still in a downward wedge trend. Although there is a short-term rebound, it is limited to oscillation and consolidation, and the bulls have not disrupted the downward wedge trend.
The content of the previous article is still relevant due to the slow price movement.
"Is the short-term bottom in sight? Is the trendline support at 39000 the bottom?
The short-term 4-hour price is about to enter a phase of oscillation and consolidation. The daily price is still within the downward wedge. The temporary support at 39000 is not yet sufficient to establish the bottom. Short-term attention still needs to be paid to the effectiveness of the support at the 39000 level."
Market Outlook:
Today is Friday, and the weekend is coming! Although the 4-hour chart has stabilized the price above the Bollinger Bands' midline, as shown in Figure 2, the bulls have yet to show significant momentum. It is expected that the 4-hour chart will continue to maintain the rhythm of oscillation and consolidation, making it difficult for a direct acceleration of a major bull run.
Intraday Plan: Continue to be optimistic about the price maintaining oscillation. The plan is to short at a high below 40800 with a stop loss at 41300 and a target of around 200 points above and below 39000.
The plan for the entire weekend will be arranged in real time during the session!
For more real-time and accurate price strategies, please pay attention to the real-time prompts from the helmsman during the session!
Trade your plan. Plan your trade!
The recent market changes have been rapid, and the volatility has been high. Risk management is essential for trading! If there are any price changes during the session or precise real-time price opportunities, the helmsman will provide real-time prompts to everyone!
All analysis and judgments are probabilistic predictions. The market carries risks, and speculation should be cautious!
2024.1.26
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