Hai Ocean Waves: 1.21 Cryptocurrency Market Bitcoin (BTC), Ethereum(ETH) Latest Market Analysis and Insights Today

Hai Ocean Waves: 1.21 Bitcoin (BTC) Market Analysis Reference:
Yesterday, Bitcoin's intraday trend continued the previous downward movement. After briefly breaking below a key support level, the price experienced a strong dip. In the morning, after a low spike around 87,800, a rebound was triggered. As of the time of writing, the price is trading around 89,200.
From the daily chart perspective, a long bearish candle appears, and the current price has broken below the middle band of the Bollinger Bands, while approaching the lower band support, indicating that short-term bullish momentum is weakening. The KDJ indicator's three lines are diverging downward, with the J value entering the oversold zone, but no clear reversal signal has appeared. The MACD continues to shrink in size, turning from positive to negative, with the DIF line crossing below the DEA line to form a death cross, indicating that medium-term upward momentum is fading. The RSI indicator has also fallen below 50, reflecting a generally bearish market sentiment. Overall, the short-term price is likely to continue oscillating and adjusting. If the support at the lower Bollinger Band around 87,600 holds, a technical rebound may occur; if this support is broken, the risk of further decline increases. Attention should be paid to the resistance at the middle Bollinger Band (92,300).
From the short-term hourly chart perspective, on the 4-hour chart, the price has shown a slight rebound near 87,790, still operating near the lower Bollinger Band. Although there are signs of stabilization in the short term, the moving averages are arranged in a bearish pattern, exerting clear resistance on the price. The KDJ indicator's three lines are turning downward, indicating oversold correction signals. The MACD is shrinking but the fast and slow lines continue diverging downward, indicating that medium-term weakness remains. On the 1-hour chart, the Bollinger Bands are tightening, with the current price between the middle and lower bands. The KDJ lines are diverging downward, the J value is falling, and the MACD histogram has shifted from negative to positive, but the volume is small. The DIF and DEA lines are forming a golden cross at low levels, suggesting that short-term rebound momentum is weakening and no clear bullish continuation signal has formed. Combining both perspectives, the current trend is mainly weak oscillation. If the price cannot break above the 90,200 level at the 1-hour Bollinger Upper Band and fails to push up against the 92,100 level at the 4-hour Bollinger Middle Band, the rebound space will continue to be compressed. Under these circumstances, focus should be on the support at 87,800. If this level is broken, the price is likely to continue downward. Therefore, it is not recommended to blindly go long; intra-day trading should mainly focus on shorting during rebounds.
Hai Ocean Waves: 1.21 Short-term Bitcoin Reference:
Short position: Short in the 90,500-91,500 range, with a stop loss at 92,500, target 90,000-89,000.
Hai Ocean Waves: 1.21 Ethereum Short-term Reference:
Short position: Short in the 3,010-3,060 range, with a 30-point stop loss, target 2,950-2,900.
Long position: Long in the 2,860-2,910 range, with a 30-point stop loss, target 2,950-3,000.
This content is originally shared by 【Hai Ocean Waves】, representing personal opinions only. There may be delays in posting. For reference only, do not operate blindly! Hope everyone can stick to their principles regardless of market fluctuations, stay rational and calm. Deeply understand the characteristics, risks, and profit mechanisms of investment products, and avoid being swayed by short-term market volatility. Wishing fans and friends in their investment journey to have keen insight, seize opportunities, make perfectly timed decisions, and ride the waves in the ocean of investment to harvest wealth and growth!!!#BTC #ETH