Evening Thoughts on January 21:

Looking at the intraday market, the overall pattern shows wide fluctuations. The market first experienced a downward adjustment, with prices retreating to a low of 100097. However, just as the market sentiment turned bearish, the bulls quietly gathered strength and rebounded strongly after hitting the bottom. By the evening, market enthusiasm was completely ignited, and prices broke through, reaching a high of 105292, demonstrating a strong upward momentum. However, just like climbing to the top of a mountain requires a brief rest, the current prices are in a correction phase.

From the 12H to daily chart, after breaking the high, the daily candlestick shows a long upper shadow, and the market outlook is unclear. It is recommended to adopt a defensive strategy, avoiding blind aggression, and wait for a correction before seeking low-buy opportunities. In the 1H to 4H timeframe, the market conditions indicate that it is not advisable to chase after a rise at this moment. Although there may be a brief impulse for price increases, the potential risks cannot be ignored. Nonetheless, the mid to long-term support below remains solidly in place, providing a certain level of stability for the market. It is precisely due to the strong existence of mid to long-term support below that trading strategies linked to larger structural levels should adopt a low-buy approach. This requires us to have enough patience to wait for the correction to occur while closely monitoring market dynamics. Once the correction is in place, we should seize the opportunity to enter low-buy positions promptly.

Bitcoin: Can buy near 103000, short-term target 106000

Ethereum: Can buy near 3250-3270, short-term target 3350

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