Happy New Year everyone! Today, I want to wish you a belated New Year as we get back to work. After the New Year, many cryptocurrency enthusiasts feel like the sky has fallen. Most cryptocurrencies in the market have collectively crashed, raising the question of whether this is a sign of a bear market. Here, I would like to discuss this in detail with you. Based on past experiences, after cryptocurrency prices reach a peak, crashes often occur. Many cryptocurrencies have been halved in value, and for those who bought spot, many have seen their assets shrink by half. Currently, mainstream cryptocurrencies like Bitcoin are hovering around $100,000, while Ethereum's price is stable around $2,700. Yesterday, the market saw a spike where Bitcoin reached around $90,000 and Ethereum dipped to $2,000, followed by a rebound. However, this rebound only delays the decline but does not change its direction.

Currently, the moving averages have all broken through the middle track of the Bollinger Bands and are continuously diverging downwards. The Bollinger Bands are gradually opening, indicating that the downward trend will intensify. The spike points are where the subsequent declines will occur. The downward trend is expected to continue for about a week, and this week Bitcoin is likely to reach $90,000, while Ethereum will still be around $2,000.

For Bitcoin, it is recommended to short near $99,000 with a short-term target of $96,000, a medium-term target of $93,000, and a long-term target of $90,000.

For Ethereum, it is recommended to short near $2,700 with a short-term target of $2,500, a medium-term target of $2,300, and a long-term target of $2,100.

There are many types of investments, and it is important to choose the one that suits you. There are many paths, and choosing the right guide is crucial. I am Gu Yue, interpreting world economic news, analyzing global investment trends, and providing daily market analysis to offer you the latest trading strategy ideas and professional investment consulting services to help you reach the peak of financial management.

This article represents personal opinions only and is for reference only. It should not be used as a basis for actual operations. Market conditions are unpredictable, and profits and losses are at your own risk. For the latest trading strategies, please follow the public account: Gu Yue KOL.

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