Wednesday, January 31, 2024

As scheduled, pay attention to the unchanged bullish trend after the callback~

① 21:30 US Labor Cost Index QoQ for the fourth quarter

② 03:00 the next day, the Federal Reserve announces interest rate decision

③ 03:30 the next day, Federal Reserve Chairman Powell holds a press conference

I. Bitcoin:

1. Daily chart: After the price retested the 38600 support level, it rebounded again. If it maintains operation above this support in the later period, the bullish trend remains unchanged.

2. 1-hour chart: After a short-term breakthrough above the 42800 level, there was a slight pullback. If the pullback does not break this support in the later period, there is still a trend of continued upward movement.

II. Ethereum

1. Daily chart: After the price retested the 2150 support level, there was a rebound. If it maintains operation above this support in the later period, there is still a trend of further upward movement.

2. 1-hour chart: After a short-term breakthrough above the 2300 level, there was a slight pullback. If the pullback does not break this support in the later period, there is still a trend of continued upward movement.

I. Bitcoin

1. Yesterday's viewpoint:

Summary: After a short-term breakthrough above the 42800 level, there was a slight pullback. If the pullback does not break this support in the later period, there is still a trend of continued upward movement. The upper resistance is at 44800 and 46000 levels;

If it breaks this support, it will initiate a pullback trend, and the lower support is at 41700 and 40300 levels.

2. Later trend:

The later trend saw a callback as scheduled, without breaking the 42800 level, and a narrow range of fluctuations, reaching a low of 42634.

II. Ethereum

1. Yesterday's viewpoint:

Summary: After a short-term breakthrough above the 2290 level, there was a slight pullback. If the pullback does not break this support in the later period, there is still a trend of continued upward movement. The upper resistance is at 2380 and 2450 levels;

If it breaks this support, it will initiate a pullback trend, and the lower support is at 2240 and 2170 levels.

2. Later trend:

The later trend saw a callback as scheduled, without breaking the 2290 level, and rebounded again, reaching the first target of 2380, with a high of 2392.

I. Bitcoin

Summary: After a short-term breakthrough above the 42800 level, there was a slight pullback. If the pullback does not break this support in the later period, there is still a trend of continued upward movement. The upper resistance is at 44800 and 46000 levels;

If it breaks this support, it will initiate a pullback trend, and the lower support is at 41700 and 40300 levels.

II. Ethereum

Summary: After a short-term breakthrough above the 2300 level, there was a slight pullback. If the pullback does not break this support in the later period, there is still a trend of continued upward movement. The upper resistance is at 2400 and 2470 levels;

If it breaks this support, it will initiate a pullback trend, and the lower support is at 2240 and 2170 levels.

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