Analyst Chen Shu: 1.20 Afternoon Bitcoin and Ethereum Market Strategy
On January 19, the afternoon article analysis provided Bitcoin and Ethereum long and short strategies. Bitcoin suggested a long position at 10.45/10.35, while Ethereum suggested a long position at 3200/3260. The long position strategy was correct, but both experienced significant pullbacks before breaking new highs yesterday. Currently, for short-term operations as the market continues to rise, please see the analysis below.
From the daily chart of Bitcoin, today’s daily line is currently forming a large bullish red candlestick, with the price directly breaking the historical high of 110,000. As mentioned in yesterday's article, as long as the market breaks and stabilizes above 10.6, it will continue the bullish trend and break the historical high. Currently, the short-term bullish trend is evident, and the price of 110,000 is clearly not the endpoint. With Trump about to announce his return tonight, Bitcoin's rise breaking the historical high also requires caution against the situation of buying on expectations and selling on facts. If the positive news is exhausted tonight, there may be a pullback. Technically, it is recommended to buy on the pullback.
From the daily chart of Ethereum, although Bitcoin broke the historical high today, Ethereum's price is still fluctuating and adjusting at a low level. The daily resistance level of 3530 has not yet been broken. We can wait to see if there will be a follow-up rally to drive the price to break and stabilize above 3530. Looking at the 4-hour chart, the overall resistance level is still as mentioned in yesterday's article, with short-term focus on the 3380/3500 levels.
Afternoon Operation Ideas (Written at: 16:00):
BTC: Light long at 10.6, add to long on pullback at 10.45, target 10.8/10.9; short positions are not currently considered, can wait for positive news to be exhausted.
ETH: Long in the 3150/3280 range, target 3400/3500; short in the 3500/3550 range, target around 3400/3300.
The daily analysis strategy has a very high win rate! Analysis is not easy, and I hope everyone can give a free follow, bookmark, like, and comment. Thank you all, and feel free to leave comments below for discussion; I will reply one by one!
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