Yue Ying: 1.20 Bitcoin and Ethereum Market Analysis Today - Rebound Support Area Tested Again, Will It Continue to Fall or Rebound?

I am Zhou Yueying. Friends who like the article, please follow me. Let’s see today’s share!

Bitcoin Technical Analysis ————

Bitcoin daily chart shows six consecutive bearish candles breaking below the midline support, testing around the 60-day moving average. The Bollinger Bands are narrowing upward, short-term moving averages are turning downward, MACD lines are crossing downward, and volume bars are turning green with increased volume. KDJ is extending downward, paying attention to support near the 0 value. VR indicator is consolidating around the 100 level.
On the 4-hour chart, after breaking below the lower band, the rebound did not break through the 60-day moving average, then continued to decline, breaking below the lower band and EMA200 again. Currently operating below the lower band, Bollinger Bands are opening, short-term moving averages are downward, MACD lines are below the zero axis extending downward, volume bars are increasing again, KDJ has turned multiple times without crossing, maintaining a downward trend, with support near the 0 value. VR indicator is consolidating around the 50 level.
Overall, the market has returned to the previous oscillation chip zone. Although indicators are bearish, it is also within the previous support area, so there is a short-term probability of further testing downward, but do not be overly bearish. Short-term support is around 89500, resistance is below 94000. For short-term trading, consider the above levels.

Bitcoin short-term suggestion: Long at 90200, short at 93800 (activate strategy for profit, manage at will)

Yitai Technical Analysis ————

Yitai’s overall technical trend is the same as Bitcoin, so follow the correlation. Since the market has returned to the previous support zone, short-term support is around 3050, resistance is below 3250. For short-term trading, consider the above levels.

Yitai short-term suggestion: Long at 3080, short at 3218 (activate strategy for profit, manage at will)

—— I am Zhou Yueying, a teacher focused on technical analysis. If you have any questions about operations or trends, feel free to communicate and learn with me! Let’s share and profit together! #BTC #ETH