After hitting a new high yesterday, Bitcoin once again experienced a pullback. This is the second time in the recent period that the coin price has reached a new high followed by a quick correction. This trend indirectly indicates that the bulls are in a tentative state during the breakthrough process and have not formed an effective continuation. However, under the premise of an upward trend, we cannot blindly go short after each new high. From the perspective of the market, the bulls still have the advantage, especially after the rebound from the 40200 level last week to above 48500 yesterday. In just a few days, there has been an increase of nearly ten thousand points, which should not be ignored.

In terms of Bitcoin's trend, the daily chart showed a high followed by a pullback and a bearish close yesterday. Intraday, it consecutively fell below the 46000 and 45000 levels, and the bulls did not truly stabilize at the 45500 resistance level to form a breakthrough. The short-term false breakthrough is not enough to support the upward movement of the daily chart structure. However, before the bottom support of 40200 is effectively breached, the structure will either oscillate or continue to move upward, and will not truly turn bearish. The short-term turning point is around 44200, and it is advisable to go long if the coin price retraces to this level in the evening.

As for Ethereum, the pullback of Bitcoin did not affect the rebound of Ethereum at all. After yesterday's rebound from the bottom, the coin price continued its strong short-term upward trend and once again broke through the 2400 level. However, it faced pressure and fell back below the 2400 level in the evening. This level has become a strong resistance level on the daily chart. Considering the initial breakthrough in early December, Ethereum has continuously broken through multiple times without stabilizing. Once it stabilizes effectively, it is expected to usher in a new round of upward movement. At least in the short term, it will break through the previous high. Therefore, personally, I still have a positive view on the bulls for Ethereum. After the sharp drop last week, the previous rebound momentum will inevitably provide enough energy for a new breakthrough. Intraday, we have given recommendations for short positions at 2420 and long positions at 2350, both of which effectively captured the highs and lows. In the evening, after a sharp decline below the 2400 level, the coin price began a small rebound. First, pay attention to the intraday stabilization at 2400, and if it stabilizes, the next target is 2450. For more analysis and recommendations, please follow the public account: Xiaofeng's Coin Analysis

Bitcoin Short-term Long at 42000

Ethereum Short-term Long at 2350

As for gold, after the non-farm payroll data last Friday, there was a short-term unilateral decline after the rebound from the bottom. The daily chart is currently continuing the pullback after the pressure at 2088. However, the gold price has reached the support level of 2016, and after probing this level on Monday, there was a rebound. But there was a slight adjustment yesterday and today, without a V-shaped rebound based on this level. So, can 2016 become the starting point for another round of rebound? We will wait and see. From the perspective of the daily chart structure, it has always maintained a rhythmic upward trend, and has formed an ascending channel of 1918-1973-2016 in recent times. However, the status of 2016 still needs to be confirmed. Therefore, this week, the focus is on the support at this level. As long as the support is not broken, gold is expected to usher in a new round of upward movement. The short-term resistance level to watch is 2038, and the focus is mainly on long positions.

Gold Short-term Long at 2030

This article is an original work by Xiaofeng's Coin Analysis. The above analysis is only a personal opinion and is for reference only. Investment carries risks, and entering the market requires caution. Please indicate the source when reposting!

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