1.6 Evening Bitcoin and Ethereum Trading Suggestions and Directions


From the current market situation, the 4-hour chart shows that after the rally to around 93,380 this morning, there was downward pressure and a correction. Currently, it is trading below the upper band of the Bollinger Bands at around 92,400, with short-term narrow-range oscillation and correction. The two consecutive bearish candles broke the upward trend of the consecutive bullish candles. The Bollinger Bands' three-trend lines continue to rise, but no clear direction has emerged in the short term. On the 1-hour chart, the Bollinger Bands are expanding, with the three lines continuing upward. After reaching a high point, it entered a correction phase, but the correction momentum is weak and lacks reversal potential. This counter-move is just a normal retracement after a rally, and the market is still in an upward rebound trend. Therefore, the correction can be seen as a low-entry opportunity. Zhao Laoshi's midday operation advice remains to focus on buying on dips.
In the evening, consider buying near 92,500 to 92,000 for Bitcoin, watch for 94,500.
For Ethereum, consider buying near 3,160 to 3,130, watch for 3,230.
ETH2.03%
BTC-0.28%
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