Yue Ying: 1.29 Bitcoin and Ethereum Market Analysis Today - Longs on Bitcoin are being fulfilled. Will support break accelerate the decline?

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Bitcoin Technical Analysis ————

The short position strategy at 90500 mentioned earlier on Bitcoin was executed precisely. Currently, the low point is around 87650, with longs at 87800 having limited profit potential for now. On the daily chart, the previous K tested above the 60-day moving average and faced resistance, pulling back to form a long-legged doji. The opening of the day tested the Bollinger Bands' opening state downward, with short-term moving averages flattening. The MACD fast and slow lines are extending downward, with decreasing histogram bars. The KDJ is crossing upward, and the VR indicator is consolidating near 110.

On the four-hour chart, after touching the EMA200, the price was resisted and fell below the midline. The Bollinger Bands are narrowing, indicating a potential reversal, with the short-term moving average showing signs of turning. The MACD fast and slow lines are turning downward near the zero line, with decreasing histogram bars. The KDJ is crossing downward, and the VR indicator is consolidating near 100.

Overall, the news released during the early morning did not cause significant volatility. After the market opened, there was a slight dip, as expected. Resistance above has been holding back the price from breaking through and stabilizing. Therefore, in the short term, focus on shorting rebounds. Watch the four-hour 7-day moving average as resistance and the lower band as support. See the short-term suggestions below.

Bitcoin Short-term Suggestions: Buy at 87300, short at 89000 (activate strategy for profit, trade at your own risk)

Concubine Technical Analysis ————

The rebound of the concubine did not break through the previously mentioned 3050 resistance, and the market turned to retrace. The daily and four-hour technicals are linked to Bitcoin's reference. Continue to monitor the 3050 level as a short-term dividing line above. Support below is around 2900, followed by 2800. See the short-term suggestions below.

Concubine Short-term Suggestions: Short at 3015, long at 2908 (long at 2838) (activate strategy for profit, trade at your own risk)

— I am Zhou Yue Ying, a teacher focused on technical analysis. If anyone has questions about operations or trends, feel free to communicate and learn together! Let's share insights and profit together! #BTC #ETH