Happy New Year! Yesterday, after a sharp drop to 91231, there was a rebound in the evening to fill the CME gap at 102500. The price remains unchanged, but positions have been lost due to the volatility. Ethereum also saw a direct spike to 2125, and as of the time of writing, it is still above 2800. The bull market has experienced significant drops and washouts.
Although around 90,000 is a key support for bulls, a break below this level could see a drop to 76,000—85,000. However, as long as it stays above 90,000, it will still be a choppy washout. From a monthly and weekly perspective, the adjustment period is prolonged. The U.S. stock market has once again approached previous highs and faced resistance. Combined with the weakening expectations for interest rate cuts, it is only possible to see another rate cut in the second half of the year. Moreover, the businessman known as "the king" prioritizes securing his own profits, and policy changes can happen quickly. Whether it’s Japan raising interest rates or "the king" increasing taxes, the market reaction has been very sluggish, requiring patience. Only a "black swan" event would provide better opportunities.
Bitcoin
On the weekly chart, whether we see an M-top or two spikes failing to break through 110,000, the support around 90,000 is very critical. The monthly chart shows a doji star, with high-level fluctuations lasting over two months. If it cannot break through the range soon, there is still a risk of a pullback.
On the 4-hour chart, there is a downward trend. Pay attention to changes in the channel. As long as the price remains above 97777 and 99500, it will still be a high-level choppy washout. If it cannot break through the upper edge of the channel and 108,000, it will likely pull back. Be patient and wait for direction.
Support: Resistance:
Ethereum
The daily chart shows a descending wedge with a false breakout leading to consecutive drops. The daily and weekly charts have formed an M-top and spiked again to 2125 for a rebound. Many people have been liquidated and have lost confidence in it, so the next step is to wait for a second probe to add positions.
Support: Resistance:
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This article is time-sensitive and for reference only; it is updated in real-time.
Focusing on K-line technical research, sharing global investment opportunities. Public account: Trading Prince Fusu
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