01.15 Insights
Short-term
Good news: The daily chart shows that a bullish divergence is basically forming.
The resistance level at the trend line of 98.8k will be challenged, with increased chances of reaching 102k again.
Bad news: The market has a script, the triangle pattern, which is quite tormenting for the mindset.
However, this triangle pattern has shown a bullish formation.
Mid-term
Worth looking forward to. If this round of rebound can stabilize above 100k for several consecutive days, it means that this short-term consolidation phase will come to an end. There will be around 7 days of upward movement. The next short-term low is expected around January 25.
Long-term
Need to be cautious of the weekly death cross, which indicates that a larger cycle of consolidation will begin.
Short-term script and long-term script 👆🏻
