Article editing time January 4, 2024, 11:14 AM, all views do not constitute any investment advice! For learning and communication only

Just take care of your own heart. The hardest thing to control in this world is the human heart. You may think you understand someone, but in reality, you've only scratched the surface. Sometimes, you may think others understand you, but they are actually just misunderstanding you. When you feel like you have someone's heart, in reality, it can change at any time. Perhaps nothing can stop a heart from changing. The sky is easy to darken, and the heart is easy to change, that's the truth.

Market Review:

Yesterday, after reaching a high of $45,800, Bitcoin began to pull back. Influenced by the overall market, there was a significant pullback, with a short 10-minute drop of 5000 points in the U.S. market, washing out long positions across the entire network. Now, everyone in the market is focusing on whether the Bitcoin spot ETF will be approved in January, which has had a preliminary push on the price of Bitcoin. However, before the final announcement of the ETF, the market's subsequent trend is still unknown. It is expected that there may be some news as early as January 3rd or 4th, and at the latest, it may have to wait until January 10th or 15th. During this period, it is recommended that everyone remain cautious. Any news about the ETF could lead to a surge or plunge in the market, and both long and short positions could be punctured. Without further ado, let's take a look at today's market trend.

Market Analysis:

There isn't much to analyze in terms of technical structure. The intraday moving average indicators are chaotic and divergent, requiring time for transition, consolidation, and repair. This will form a long period of oscillation and focus on the breakthrough changes at the resistance of 43,500 and the support of 42,000. In the short term, refer to high selling and low buying in this range, and follow the trend after the breakthrough. Currently, do not bottom fish. In a bull market, there are frequent surges and plunges, so preserving the principal and strict risk control is the key.

There are several important events worth paying attention to:

• January 4th, the U.S. Department of Labor will release non-farm payroll data.
• January 10th, the U.S. SEC will make a decision on the Ark21 Bitcoin spot ETF application.
• January 12th, the U.S. will release December CPI data.
• January 14th, the U.S. SEC will make a decision on the Bitwise spot Bitcoin ETF application.
• January 17th, the U.S. SEC will make a decision on Valkyrie's spot Bitcoin ETF application.
• January 25th, the U.S. SEC will make a decision on the Grayscale Ethereum spot ETF.
• January 31st, Ethereum developers will conduct the Cancun upgrade in Sepolia.

Overall, the market is currently full of uncertainty, so it is important to remain cautious and manage positions well. This is not the time for full investment.

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Trading Suggestions:

BTC:

Long at the 41,800-42,000 range, target 43,500, defend at 41,500

ETH:

Long at the 2,180-2,200 range, target 2,240, defend at 2,150

Disclaimer

The market changes rapidly, and the market fluctuates quickly. The entire article is based on personal speculation and has no reference value. Investment carries risks, so entering the market requires caution. It is important to trade lightly and not get carried away. Wishing 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.

The above content is created 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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