New Yaw's Analysis: Bitcoin Market Forecast for January 8

CN
1 day ago

Good evening everyone, I am Xinya. I know that you all didn't have a great time yesterday, and neither did I. The positions given have still become important layout points for the main force, but the direction is a bit off, and some people fell just before dawn. However, some who like to hold positions took this opportunity to withdraw. I can only say that the market is unpredictable and does not change based on human material conditions; heaven and earth are indifferent, treating all things as straw dogs.

The positions considered yesterday were all good positions, but the direction was contrary. You can question my direction, but there is no need to doubt the grasp of the old navigator: 91200, 92500, 93800, including Ethereum's 3180. If you substitute these into the candlestick chart, you can see how absolute the divergence point is, which has already been confirmed by the market. Xinya is not the sword that decides the market, nor is it the hand that leads the market. It is just one of many pushing forces.

Let's first take a look at the market in the past two days. Bitcoin was blocked around 94800 in the early hours of January 6, and the buying pressure was not very strong. However, by ten o'clock in the evening, the buying pressure increased, and the MACD fast and slow lines converged above zero. At that time, there was hope for a rise at the one-hour EMA30, which was also the second rise at 93800, completely liquidating the stubborn short positions that had entered around 90000 since the beginning of the month. However, the market's performance was not as expected. From eleven o'clock on the evening of the 6th to one o'clock this morning, three consecutive one-hour candlesticks showed significant selling pressure, piercing through 92500, stopping at the one-hour EMA120 and EMA144, around 91200. The rebound here touched the divergence point of 93800 just enough. Interestingly, the rebound process at 92500 was a period of accelerated buying pressure.

The traces in this area determine that this position still needs to be verified in the future market. Today during the day, the price ran above 92500 with narrow consolidation. The precise suppression around five o'clock in the afternoon indicated that the future market direction needs to look at the main force's face in this area.

The trend of Ethereum is actually quite simple; it synchronized with Bitcoin in rhythm and amplified the emotions in amplitude. The entire running process saw pressure around 3300, stopping at 3180, rebounding back to 3300, and then being blocked again. In the process, whether it was a pullback or a rebound, there was acceleration at 3250. This was also the suppression point at five o'clock this afternoon, similar to Bitcoin's 92500.

Regarding the future market, we will focus on the reaction of these two positions. For Bitcoin, pay close attention to 91200 and 90000 below, and 92500, 93500, and 94800 above. For Ethereum, pay attention to 3150 below and 3250, 3300 above.

The current trend is somewhat complex, with multiple possibilities, but the overall tug-of-war around these positions needs to be closely monitored. As long as it stabilizes above 92500, it will push up to 94800, extending to 95800-96500 before starting to decline. For Ethereum, if it stabilizes above 3250, it will test 3300, with the highest attack reaching around 3380-3415 before turning down. If it oscillates, Bitcoin will revolve around 92500, while Ethereum will be around 3250. The points for shorting are also obvious, with Bitcoin and Ethereum at 93000 and 3300 respectively. Those doing short-term trading can focus on these points.

We have entered long positions twice and can hold them, basically around 91200-91800 for Bitcoin, and 3180-3200 for Ethereum. Be conservative and watch the resistance points; just hold the pattern. I suggest everyone be a bit conservative in the recent market, leaving a wider margin for error when adding positions. I hope the market gives everyone a bit more opportunity. I have been busy with very important matters recently, so I can only offer some advice, please forgive me.

Let’s move forward together, WeChat Official Account: Xinya Talks About Trading

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