Track real-time hotspots in the crypto world, seize the best trading opportunities. Today is Tuesday, January 14, 2025.
Overnight, the three major U.S. stock indices opened lower but rose throughout the day, with mixed closing results. Stocks related to Trump surged by 21%. Influenced by the U.S. stock market, Bitcoin and Ethereum experienced a double spike washout last night, with the prices sharply dipping below the 90,000 mark, hitting a low of 89,100 before quickly rebounding. Ethereum also reached a low of 2,910 last night, and the price has now warmed back up to around 3,130. The significant volume from the bears early in the morning has also pulled the bulls up. We need not panic about the current pullback strength, as further deep pullbacks aim to force long positions to escape, thereby clearing resistance for better market rises.
Bitcoin initially surged to around 96,000 in the morning before retreating, followed by a period of downward volatility. In the evening, influenced by the U.S. stock market, it experienced a violent spike, quickly dropping to the 89,100 mark before swiftly rebounding, recovering nearly half of the day’s losses. From the current daily trend, the market's performance is still relatively weak, with prices continuously declining and new lows being refreshed. The weak structure is very evident, but it's worth noting that the day’s pullbacks have been fully recovered, with the daily closing forming a doji star. The time for a potential breakout and reversal at the upper mid-band resistance is approaching. Currently, the 4-hour chart shows a rebound, but the rebound has not fully reclaimed lost ground, so it can be seen as a consolidation after the decline. In the short term, there is stagnation in the upward movement, and we are in a phase of horizontal adjustment. Throughout the day, the focus will be on whether a new round of recovery can break the current weak market sentiment. Operationally, continue to maintain a low long mindset!
Ethereum is linked to Bitcoin's movements. Last night it reached a low of 2,910, and the price has now warmed back up to around 3,130. Currently, the price is slightly rebounding, and during the day, we will focus on testing the resistance at the 3,150-3,220 range, as yesterday's rapid drop zone serves as a short-term pivot point!
