BTC Intraday Analysis on January 17th

CN
1 year ago

Daily chart, 4-hour chart, continue the strategy from the previous day, refer to the article from January 15th.

On the 30-minute chart, it is still in a range-bound consolidation. There was a downward retracement within the day. If there is no new high above 43617 in the upward movement, attention should be paid to the end of the upward movement. If there is no bearish divergence and a new high is broken, continue to hold and pay attention to the reversal of the market. Combined with MACD, the probability of not making a new high is high.

On the 5-minute chart, pay attention to the completion of the 5-minute retracement and the buy signal of the 1-minute chart. If the 5-minute upward movement does not make a new high and the sell signal of the 2nd bar on the 30-minute chart, continue to short. There is still an expectation of breaking the new low. Currently, it is still in a 30-minute range-bound consolidation, with the yellow and white lines on the 4-hour chart approaching the zero axis for a turnaround. Manage risks well.

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