Good evening everyone, I am Xin Ya. Yesterday went quite well, but as you have seen, the positions given were just right; this is the scalpel of the cryptocurrency circle.
Today, let’s do a brief recap. On the night of the 28th at eleven o'clock, Bitcoin dipped down to around 88800. The first candlestick of the rebound closed at the divergence point of 89500, while the highest point of the rebound was at the pressure zone of 90500. Here, it faced selling pressure again. We mentioned yesterday that 89500-90500 is a damping zone, and the entry and replenishment points given in the day's strategy—are they still extreme? After Bitcoin touched 90500, the two subsequent pressures were applied; the bears first reduced volume. After failing to hold above 89500, they then increased the pressure. Our target given yesterday was around 87500. We mentioned that whichever side breaks first would dictate the direction of continuation. The problem is, neither side has broken, so the market will continue to consolidate. Currently, we prefer to handle this with volatility, leaning towards a downward movement.
The operation process of the night market for Ethereum started with a downward probe to around 2980, and after a back-and-forth process, it tested downward after reaching around 3040. During the day, it hit a low of around 2930. This is a bit narrower than our expectations; you can check Xin Ya's thoughts given yesterday were to catch a pin at around 3050, with a target at around 2920. Well, the actual operation is still somewhat close to the range.
Actually, there isn’t much to look forward to in the market. January has transitioned, and the current method that best fits the interests of market makers is to first smash down a round, or to decline gradually, shaking off the bulls in the rising trend before the New Year. Interest rate cuts do not meet most expectations; however, precious metals are rising. Due to the emotional interconnection of financial markets, we cannot be overly bearish.
We can only short based on the segmented range of volatility, which allows for significant margin of error. Currently, the one-hour EMA 120 and 144 are around 88900, while Ethereum's one-hour EMA 30, 120, and 144 are concentrated around 2980. We can continue from yesterday's thoughts, shorting at 88800, replenishing at 89500, and looking down to around 85800-86200. For Ethereum, short at 2960-2980, looking down at yesterday's second segment expectation, around 2860. Handle the rebound based on actual market conditions and plan stop losses accordingly.
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