With Trump's inauguration as expected, all anticipated positive factors in the market have materialized. During this period, Bitcoin has generated a severe bubble due to excessive speculation and hype, and investors need to be highly vigilant about the risk of a significant correction in Bitcoin.
Observing from the daily level, Bitcoin has rebounded for a consecutive week, reaching a new short-term high yesterday, but subsequently pulled back, closing with a doji candlestick at a high position. In technical analysis, this kind of doji candlestick at a high position typically signals the imminent end of a short-term upward trend.
Based on the current daily trend, the short-term correction target for Bitcoin may point to around 92,000 points. Analyzing from a broader trend perspective, Bitcoin is currently in a wide oscillation range of 90,000 - 108,000, which is considered a high-risk area in the overall market trend. Whether Bitcoin can continue its upward momentum will largely depend on the relevant policies introduced after Trump's inauguration.
Switching to the 4-hour chart, the rising channel that started last week has been broken. The recent significant fluctuations in price at high levels indicate that the market is rapidly entering a correction phase. Based on the above analysis, for intraday operations, it is recommended to closely monitor the resistance level in the range of 102,500 - 104,000; bearish operations can be considered in this range. On the downside, pay close attention to the support strength in the range of 99,500 - 98,000.
ETH Market Analysis and Trading Suggestions
Analyzing from the weekly level, Ethereum rebounded to near the 7-day moving average last week before quickly falling back, showing an overall trend of oscillating downwards. The 7-day moving average above continues to extend downwards, forming a clear suppressive effect.
On the daily level, Ethereum's recent rebound following a decline is mainly attributed to the upward movement of Bitcoin. Currently, Ethereum is oscillating within the range of 3,200 - 3,400 points, with the range of 3,400 - 3,450 having formed the recent high point area.
Overall, Ethereum is in a downward oscillation channel, and the support strength around the 3,000 points must be closely monitored in the short term. At that time, it is crucial to pay attention to the candlestick patterns on the daily level; if a solid bearish candlestick appears, it may indicate that the downtrend will continue. Given that the current market is in a bull market phase, the downside potential for Ethereum is relatively limited.
From the 4-hour chart, it can be seen that the price has rebounded multiple times after probing near 3,200 points, indicating that there is significant buying support below.
In terms of intraday trading strategy, it is recommended to pay attention to the resistance at the position of 3,280 - 3,320 above. If the price reaches this range, consider going short at highs; on the downside, focus on the support at the position of 3,200 - 3,160. If the price corrects to this range, consider going long or waiting for further trend confirmation based on market conditions.
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