Following the previous report, the market outlook may converge. From the afternoon of January 8 to yesterday afternoon, the Bitcoin K-line formed a three-day converging consolidation range, which was successfully broken last night. However, before the pattern is broken, there are various signs that the bearish trend is strong. For example, at 4 pm on January 10, the Bitstamp exchange may be the first to drop the lower shadow line of the $2,000 space due to insufficient liquidity. This phenomenon can be used as a reference direction judgment. Today, the market fell again. The spot price difference between Coinbase and Binance Exchange once exceeded 200 US dollars. Will enter a wide range of shocks.

BTC/USDT review analysis

As shown in the figure, Bitcoin formed a three-day converging and consolidating range in the 40,000 high area, and finally chose to break down, with a downward killing space of $8,000, a short-term decline of more than 20%, and finally effectively stopped falling above the demand area of ​​30,700-32,000 . In the market outlook, Bitcoin may enter a short-term disorderly shock range, and wait for the bulls to stabilize and enter the market again. The lower part focuses on the short-term support line of 33500, and the upper part focuses on the pressure around the starting point of the supply column at 38200.

ETH/USDT review analysis

ETH/USDT review analysis

As shown in the figure, the trend structure of Ethereum is generally similar to that of Bitcoin, but in the convergence and consolidation range of Bitcoin, Ethereum first completed the convergence and hit upwards for a while, and was then brought down by Bitcoin. Smooth, stop falling around 970-1000 in the lower demand zone (that is, short-term support), and the upper pressure is also concerned about the starting point of the supply column around 1255.

As shown in the figure, the 6.55 pressure level mentioned by UNI in the previous report was effectively resisted, and then fell sharply, with a drop of 23.6%, which is more "elastic" than Bitcoin. At the same time, this round of decline has formed a "head and shoulders top" pattern. If it falls below the short-term support 5.29 neckline, the market outlook will be bearish; the bottom will focus on support levels around 5 and 4.48, and the top will also focus on the pressure near the starting point of the supply column at 6.

This article is for reference only and does not constitute any investment advice