Hello everyone, I am the not-so-smart Bitcoin enthusiast.
Today is Tuesday, January 21, Beijing time.
Yesterday, Bitcoin experienced significant volatility due to the news of Trump's ascension, reaching a high of 109998.9, a low of 99500, and closing at 102269.9, with an intraday fluctuation of 10,000 points and an amplitude of 10%. Friends with heavier positions must be careful of such fluctuations. Therefore, we must manage our positions wisely and never expose ourselves to risk.
From a technical perspective, regardless of how Bitcoin moves, it is currently in a large daily box pattern experiencing fluctuations, and it is in a state of convergence near 95500-106000. Yesterday's spike can be seen as a guiding signal or interpreted as a market test before significant funds pull the market. The first time may deceive, but we must still be brave enough to go long the second and third times. Because the trend will always continue in its inertia, let’s wait and see.
For Bitcoin to continue rising in the 4-hour timeframe, it must not break below the small box level of 95000, where it should oscillate repeatedly. Once it falls below 95000, we need to consider taking profits or stopping losses on our long positions.
You can look for opportunities to go long near 95000, taking profits at the upper edge of the box near 106000. As for whether it will break through or not, it's not something that can be grasped in the short term. You can keep a small portion of your position for a potential breakout, while securing most of your profits.
In the 30-minute trend of CoinWin, although there was significant volatility yesterday, the short-term upward structure has not been broken. It is currently oscillating in a tangled area of moving averages and is above the upward trajectory, indicating that we are generally bullish in the short term.
After this oscillation, it is highly likely to move upwards.
ETH's daily line continues to oscillate within a downward trend line, forming a descending triangle. Patience is needed; once the market improves, ETH will follow. If the consolidation lasts long enough, there will be a trend market.
In the 4-hour chart, it can be seen that yesterday ETH experienced significant up and down fluctuations due to news. However, no matter how it oscillates, as long as it does not effectively break below 3100 and remains within the box, it is normal, and we do not need to be overly anxious. We should patiently wait for the market to develop.
In the 30-minute ETH chart of CoinWin, it is in an obvious oscillation area. There is no space for shorting, and it has not yet stood above the moving averages for long positions. Let it consolidate for a few days; once a key candlestick appears and it stands above the moving averages, we can decisively go long!
In our previous program, we mentioned Litecoin, which has sharply reversed its downward trend. It has now reached the 0.618 Fibonacci level of this upward segment and the key support from before, forming effective support. If it stabilizes and moves well from here, it will likely start a second wave of market activity. Let’s wait and see.
That concludes today's market analysis. Thank you all for watching.
I am the not-so-smart Bitcoin enthusiast, hoping everyone will follow, share, and like.
This is very important for us, see you in the next video!