The benefits of Trump's inauguration were confirmed as early as November after his election.
In the last few days before taking office, it is mostly about rehashing old news to stir market sentiment.
The remaining momentum of this benefit faces a cyclical resistance at 9.78. If it can break 9.78 before the 20th, there is hope to return to the 100,000 mark.
Conversely, if it cannot break through the 9.78 cyclical resistance, after stirring market sentiment, a further decline could even lead to a drop starting with 8.
The rise before the CPI announcement carries greater downside risk if it cannot break through the key resistance point, especially after sufficiently stirring bullish market sentiment.
The current trend has risen at noon to fill the gap, fully confirming the effectiveness of the Fibonacci point at 9.75. However, there are significant fluctuations in the trend, so the strategy is:
As long as the entity does not break 9.8, maintain a downward outlook within the range of 9.7-9.75, while continuing to focus on the previous rise points in the 9.4-9.25 range for potential pullbacks.
The trend of Ethereum does not require much thought; currently, all of Ethereum's movements are dependent on Bitcoin. Once Bitcoin confirms a top pressure and experiences a pullback, Ethereum's pullback strength will only increase.
For Ethereum, the daily resistance compared to Bitcoin focuses on the top pressure range of 3420-3440, maintaining a downward outlook, with 3280 as the breaking point, and key pullback levels at 3100-3070.
If there is a pullback to the lower range in the evening but fails to break the entity support at 3050, then long positions can look for short-term entry opportunities.
This column primarily focuses on sharing major mainstream cryptocurrencies BTC/ETH/EOS/XRP/ETC/LTC/DOGE. Follow the public account "Yanbi" to stay on track and enjoy more service guidance.
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