Article editing time January 23, 2024, 11:58 AM, all views do not constitute any investment advice! For learning and communication only.

The person at the mountaintop is the yearning of the person halfway up the mountain, and the person halfway up the mountain is the past of the person at the mountaintop. Awareness is an instinct, the result of self-communication. Subdivide your goals, turning them into assembly-line work, rather than longing for everyone's understanding, it's better to solidify each node. Countless seemingly insignificant accumulations will create the dreams of countless people. Make your best effort, hold the greatest hope, and plan for the worst.

Market Review:

I have some personal matters to attend to in the past few days and couldn't find time to analyze my thoughts with everyone. After the weekend's volatile market, the price of Bitcoin fell below the 40,000 mark in the early hours of yesterday, reaching a low of around 39,400. It has since slightly recovered. Currently, the market is near the lower support level, and there are signs of a bottoming out in the coin price, so there's no need to chase after short positions. In a bull market, there are often sharp declines, and the time for adjustment after a sharp decline will not be very long. This is very different from a bear market. With the ETF landing, the market needs to wait for the next narrative event. Bitcoin's halving is expected in April this year, and the expectation of halving will generally lead to a limited time for market adjustment. Don't panic over a small drop. Next is the Fed's interest rate cut. Once the Fed starts an interest rate cut cycle, it will be the driving force throughout the entire bull market cycle, continuously pushing up the price of Bitcoin layer by layer until the final frenzy, the end of the cycle, and the start of the next cycle. I am looking at the narrative logic of the entire cycle, not the daily fluctuations. As long as the fundamental of the bull market hasn't changed, all you need to do is hold onto your chips, lie low, and don't mess around. Many people lose money in a bull market because they can't hold on. They fritter away the low-priced chips they bought on every daily fluctuation, which is fatal. Don't limit your vision to the short term, because in the big picture, there's no need to panic! Without further ado, let's take a look at today's market trend.

Market Analysis:

Looking at the 4-hour market, although the coin price seems to have fallen below the lower Bollinger Band, the lower support is still there, and there are signs of a halt in the coin price. The MACD is gradually increasing, although the bearish desire is getting stronger, the KDJ three lines are also trending downward, but the coin price is not continuously falling. Although the Bollinger Bands are widening, the operating space will also increase accordingly, but we need to pay attention to the support at 39,500. The RSI three lines are in the oversold zone. I have said before that I don't buy on oversold, and I don't buy on overbought. Personally, I believe the coin price will recover to above 40,000. Personal operating advice, go long on high and short on low. (For friends who are still confused about trading, you might as well take a look at the strategy of Zhi Duoxing. 24-hour real-time guidance for trading, the market fluctuates quickly. Due to the impact of timeliness during review, the main focus for the subsequent market trends is real-time layout. Coin friends who need contract guidance can scan the QR code at the bottom of the article to add my public account.)

Operating Suggestions:

BTC: Long at 39,500-39,800, target 40,800-41,500

ETH: Long near 2,330-2,310, target 2,350-2,370

Disclaimer

The market changes rapidly, and the market fluctuates quickly. The entire text is based solely on personal speculation and has no reference value. Investment is risky, so be cautious when entering the market. Don't get carried away with high leverage. I wish everyone abundant wealth! The article needs to be reviewed and has a certain lag. If there is anything you don't understand, feel free to ask for advice.

The above content is created solely by Zhi Duoxing's public account. The advertisements at the end of the article and in the comments section have nothing to do with Zhi Duoxing.

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