1.15 Wednesday Evening Bitcoin Market Analysis
In the afternoon, Bitcoin began to rebound from the bottom at 96689, then surged to a high of 97549, but encountered resistance at this level and subsequently retreated, with the price again testing the 96670 line. The trend of Bitcoin shows a clear range-bound fluctuation, and Ethereum's market also moves in sync. Life has only the brilliance that comes from stepping out, not the glory that comes from waiting; if you don't work hard, no one can give you the life you want. Hard work is the attitude of life, and strength is your dignity.
During the day, Bitcoin continues to be in a range-bound pattern, with both bulls and bears once again caught in a stalemate. Moreover, the short-term trend reversal is extremely rapid, with the overall price fluctuating back and forth within the range, always unable to break through. Currently, when the high level approaches around 97750, there has been some pressure. The upward momentum during the day has weakened to a certain extent. From the short-term hourly chart, the Bollinger Bands show signs of narrowing, and the fluctuation range is constantly being compressed, with the trend hovering above the middle band. In the short term, the trend has entered a sideways rhythm. Looking again at the short hourly chart, the MACD is in the bullish zone in the 4-hour cycle, with the DIF line crossing above the DEA line and continuing to diverge upwards, indicating that there is still an upward trend in the short term. Important CPI data will be released this evening. In light of this, it is best for us to take a wait-and-see attitude, patiently waiting for the official release of this news, and then decide on the entry operation. CPI data often has a significant impact on the market, and its uncertain results may cause substantial fluctuations. In this case, entering the market rashly poses a significant risk. Therefore, to be cautious, it is better to wait for the data release.
Bitcoin: Can buy near 96000-96500, short-term target 98000
Ethereum: Can buy near 3170-3190, short-term target 3300
