Coin Waves: 1.21 Bitcoin (BTC) Market Analysis Reference:

Yesterday, Bitcoin's intraday market continued the previous downtrend, with short-term prices breaking through key support levels and initiating a strong downward movement. In the morning, after a low spike around 87800, a rebound was triggered, and as of the time of writing, the price is running around 89200. Observing the daily chart, a long bearish candle has appeared, and the current price has fallen below the middle band of the Bollinger Bands, approaching the lower band support, indicating a reduction in short-term bullish momentum. The KDJ indicator shows three lines diverging downwards, with the J value entering a low area, and no clear reversal signal has emerged yet. The MACD continues to shrink from positive to negative, and the DIF line has crossed below the DEA line, forming a death cross, indicating that mid-term upward momentum is fading. The RSI indicator has also fallen below 50, with overall market sentiment leaning towards bearish. In summary, the short-term price is likely to continue a volatile adjustment trend. If the lower band support at 87600 holds, a technical rebound may occur; if this support level is lost, the risk of further downward movement will increase, and attention should be paid to the resistance at the middle band of the Bollinger Bands (92300).

From the short-term hourly chart, on the 4-hour chart, a slight rebound has occurred near the low of 87790, and the price is still running close to the lower band of the Bollinger Bands. Although there are signs of stabilization in the short term, the moving average system is in a bearish arrangement, creating significant pressure on the price. The KDJ's low-level reversal only releases an oversold recovery signal, and although the MACD is shrinking, the fast and slow lines continue to diverge downwards, indicating that the mid-term weakness remains unchanged. On the 1-hour chart, the Bollinger Bands are generally in a contracting state, with the current price running between the middle and lower bands. The KDJ shows three lines diverging downwards, with the J value retreating, and the MACD volume bars turning from negative to positive, but the volume is small. The DIF and DEA have formed a low-level golden cross, indicating that short-term rebound momentum is fading, and no clear bullish continuation signal has formed yet. Combining both analyses, the current trend is primarily weak and volatile. If the price cannot break through the 1-hour upper Bollinger Band at 90200 and lacks the strength to push against the 4-hour middle band resistance at 92100, the rebound space will continue to be compressed. In this case, it is crucial to pay attention to the defense strength of the support at 87800. If this position is lost, the price is likely to initiate further downward movement, so it is not recommended to blindly enter long positions; intraday operations should focus on shorting during rebounds.

Coin Waves: 1.21 Bitcoin Short-term Reference:

Short Position: Short in the 90000-91000 range, with a stop loss at 92500, targeting 89500-88500.

Coin Waves: 1.21 Ethereum Short-term Reference:

Short Position: Short in the 3010-3060 range, with a stop loss of 30 points, targeting 2950-2900.

Long Position: Long in the 2860-2910 range, with a stop loss of 30 points, targeting 2950-3000.

【The above analysis and strategies are for reference only. Please bear the risks yourself. The article may have delays in review and publication, and the strategies may not be timely. Do not operate blindly】

The content of this article is originally shared by 【Coin Waves】 and represents personal views only. The article may have delays in sending and is for reference only; do not operate blindly! If you want to get more real-time trades daily, follow my public account! Here, you can engage in online technical learning and understand knowledge related to exiting positions. I have years of research experience in the market, focusing on the major trends in the cryptocurrency space. I mainly analyze and guide investment operations for BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other coins. Welcome to study and research together.

I hope everyone on their investment journey can adhere to their principles, regardless of how the market changes. Stay rational and calm. Deeply understand the characteristics, risks, and profit mechanisms of investment products, and do not let short-term market fluctuations sway your emotions. Be patient, avoid excessive greed and fear, and understand that wealth accumulation is a gradual process. Finally, I wish all my followers the ability to see opportunities in their investment journey, making every decision just right, sailing through the ocean of investments, and reaping wealth and growth!!!

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