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Friday🗓️ "January 23rd"
Black Friday, Bitcoin (BTC) & Ethereum (ETH) face dual pressure and fluctuate lower. Can they hold the key support level tonight?
Today, BTC and ETH are highly correlated, moving in sync but with differing strength. Both show a pattern of rising to meet resistance, then falling back and stabilizing at lower levels. Currently, the market is under macroeconomic pressure and technical weakness. Tonight, US Manufacturing PMI and Consumer Confidence Index will serve as market indicators, influencing Federal Reserve policy expectations and driving BTC and ETH trends. Their performance may determine whether prices will dip further below support levels.
Bitcoin (BTC)
Consolidating at lower levels, with the hourly low rising but rebound lacking strength. The daily chart shows three consecutive bearish candles, with weak oscillation around 90,000. Bollinger Bands are widening, with prices running along the lower band. Moving averages are under pressure, and volume is decreasing. Coupled with escalating geopolitical tensions and weakening buying interest, the downtrend is clear, indicating bearish dominance. Volatility continues to rise.
BTC🎯90,000-90,500🈳Target 88,500. If broken downward, watch for 88,000.
Ethereum (ETH)
Moving in tandem with BTC's weakness, the daily chart broke below the key 3000 level, forming a breakdown pattern. Short-term rebound momentum is lacking. Combined with Evening Star formation and a bearish moving average alignment, the main strategy is to adopt a cautious approach.
ETH🎯2,980-3,000🈳Target 2,930. If broken downward, watch for 2,850.
Caution is advised in trading. Do not blindly buy the dip. Wait for market stabilization signals before considering positions. Specific market levels will be provided in real-time by Ziqing's live updates. Wishing everyone success in trading, with keen insight and calm deployment, and a prosperous account growth~
#加密市场观察