Hello everyone, I am Bencong from Bitcoin.

Today is Friday, January 17th, Beijing time.

Bitcoin's market today is very important, and there may be relatively large trading opportunities. It has now broken through the 50-day moving average and has reached the $100,000 mark.

All of this is due to the recent positive economic data from the United States, which has given investors hope for the recovery of liquidity in the global market. According to the latest data, the overall inflation rate in the United States was 2.9%, in line with market expectations, while the core inflation rate excluding food and energy prices was 3.2%, slightly lower than the previous 3.3%. This shows that although inflationary pressure has eased, such a trend is seen as a positive signal, providing some room for the Federal Reserve to adopt a more relaxed monetary policy in the future, especially in terms of interest rate cuts.

Judging from the current market and economic environment, although the mild inflation data has a certain positive impact on market sentiment, the possibility of maintaining the current interest rate level is still high. However, this rebound in the short term is necessary to avoid testing the lower price range.

Then let’s continue to look back at the situation:

Bitcoin's daily line fell back to 97,300 yesterday and then quickly recovered the losses. It stabilized today and went up again, reaching a high of 102,200, reaching the upper edge of the box. If we have friends who followed our analysis yesterday and took long positions at the fall, we can consider taking profit or moving the stop profit. Now it has reached the pressure zone of the box, and we don't know whether it can break through or not. If you don't have any orders now, we can wait until it breaks through clearly and then falls back to the upper edge of the box and moves up again, and then we intervene to go long.

We can clearly see that in the 4-hour Bitcoin, at 10:30 last night, a needle directly pierced the small range of the previous consolidation. It also confirms our analysis on the 16th that there is a short-term correction and a long-term bullish outlook. At present, the entire bullish trend has not ended, but now it has clearly reached an important pressure zone. We will wait patiently for a breakthrough, and go long at a small stop loss when the price falls back. At the same time, we will not go short when we see a correction.CoinWin Indicator Yesterday we said that as long as we step back to the moving average and the upper edge of the track, we will enter the market to go long. We have reached the profit target 1, and we are still holding positions for target 2. The overall idea is to go long. Don't go shortETH daily line continues our view yesterday. After returning to the range, it will oscillate in the range, and you can buy when it falls back.In the 4-hour chart, we can see that after a period of strong pull-up, it returns to the area of ​​support and pressure exchange. We buy more after the injection, and take profit above to make a small profit. At present, ETH is still in the range of fluctuations, so it is not suitable to participate with a large position.Biwin 30-minute ETH, yesterday's long suggestion, stepped back to the moving average entanglement area, twice did not break the new low to enter the market, and now it seems that the goods have been received perfectly. If there are orders, we can just do a stop profit and stop loss. ETH currently we only look at the long side.LTC has been rising for two consecutive days. It is rumored that an ETF application has been submitted. From a technical perspective, LTC has seen a rally after 980 days of consolidation. A clear bottom was formed at a large level, which was broken and stepped back. After consolidation, it broke upward again. There are enough chips collected. The technical pattern is perfect. We are strongly bullish next. The effective target should be around 280.Looking at the daily chart, there are 4 consecutive strong positive lines, breaking through the daily level downward trend line and the previous resistance level. If it reaches the previous high point, it will be a good opportunity to break upward again if it goes sideways. I suggest friends pay more attention to it.

The above is today's market analysis.

I am Bitcoin Zhongbencong. If you like this article, please like and follow it. Thank you for your viewing and support.

See you next time.