January 7th Silk Road Analysis

Last night's correction really doesn't need to cause panic. Don't get flustered and make reckless moves just because the market moves. Such small adjustments are not a big deal in a true bull market! If you still change your direction because of these fluctuations, it shows you haven't grasped the nuances of trend judgment.

As I always say, as the New Year approaches, the main trend remains bullish. Small retracements can be used as short-term dips for a quick rebound. This is all based on macro-cycle technical analysis. Looking at the news, whether it's geopolitical tensions or expectations of Federal Reserve rate cuts, all are positive for the coin price. With both technical and news factors supporting, the recent market trend is definitely still upward! Hold your low-position longs with confidence; for long-term trading, patience is key!

On the daily chart, after oscillating at high levels, the price closed with a long bearish candle, clearly indicating heavy selling pressure above. The hourly chart shows a gradual decline from above 93,000, now in a consolidation phase after a rebound.

Regarding indicators, the hourly MACD green bars have not yet disappeared, with DIF and DEA still trending downward, indicating short-term bearish dominance. The daily MACD is also weakening, likely entering a correction phase.

As for RSI, the hourly RSI is around 46, not yet oversold but overall soft; the daily RSI has fallen below 50, with upward momentum clearly weakening.

Moving averages: the hourly EMA7, EMA30, and EMA120 are in a bearish alignment, with the price being held down by EMA7 and unable to move up. The daily EMA7 has also turned downward, likely testing the EMA30 support next.

In summary, keep an eye on the 91,000 support level. As long as it holds, the outlook remains bullish!

January 7th Bitcoin Trading Strategy

1. Enter long positions in the 91,600-92,400 range, with a stop-loss below 90,800. First target at 93,600-94,400. If it breaks through 95,000, then aim for around 97,300.
2. Short positions can be taken lightly in the 94,200-95,000 range, with a stop-loss above 95,800. Targets are 92,200-93,000.

January 7th Ethereum Trading Strategy

1. Enter long positions in the 3,190-3,230 range, with a stop-loss below 3,150. Targets at 3,340-3,380.
2. Short positions can be taken in the 3,360-3,400 range, with a stop-loss above 3,440. Targets at 3,250-3,300.