Crypto News

January 27th Hot Topics:

1. Bitwise CEO: BITB asset management scale has exceeded $550 million
2. Bitcoin spot ETF listed for the 11th trading day: GBTC outflow of $255.1 million
3. Chairman of the US CFTC: Spot Bitcoin ETF will bring risks, urgent need for federal legislation
4. Bloomberg analyst: The possibility of approving a spot Ethereum ETF in May is about 60%
5. Data: Ethereum options trading volume reached a record high of $17.9 billion in January
6. BlackRock's Bitcoin spot ETF asset management scale exceeds $2 billion

Trading Insights

When everything goes smoothly, you need to be cautious.

When your trading goes smoothly and everything goes as you wish, meeting your optimistic expectations, the most serious losses may suddenly follow.

Why might the most serious losses follow the best trading performance?

One possible explanation is that when everything goes well and trading is going smoothly, traders are easily blinded by victory, and temporary success may lead to arrogance and complacency.

Another related factor is that when your trading performance is at its best and your trading operations are smooth, it may also be when you are willing to hold a large position and take high risks, so once the trade goes wrong, the losses will be severe.

There is a trading maxim: no matter when, when the net value of your position reaches a new high and remains at that level, and you are still trading according to your plan, you should still guard against and eliminate arrogance and complacency, and be extremely cautious.

Search for the public account: Big White Coin

BTC

Analysis

Bitcoin's price fluctuated little yesterday, giving the impression of a retracement. It fell to the support level of around $39,900, and in the evening, the price surged past multiple resistances, reaching a high near $42,250 before being resisted and falling back. Congratulations to friends who followed the long position at a low level. Currently, the price is running near $41,870. After oscillating at the bottom on the four-hour chart, it chose to go up. The MA7 turned upwards and formed multiple golden crosses with the moving average, and the MACD bulls gradually increased in volume, resonating with the two lines. It can be seen that the bullish momentum is strong, leading to a significant rebound. In the short term, it is resisted and falls back. I personally believe that the retracement is not over yet, and after the rebound, it will oscillate and fall back again, and only after multiple washouts will it surge to a new high. The lower position still focuses on the aforementioned MA120 moving average. If it falls below, then focus on the $35,000 area. The overall direction is still very optimistic, with the strategy still being mainly long and partly short. Resistance above is at $42,300-$42,800, and support below is at $41,500-$41,000.

ETH

Analysis

Ethereum retraced yesterday, falling to the support level of around $2,196 and rebounding. In the evening, the price surged to a high of around $2,283 before being resisted. Congratulations to friends who followed the long position at a low level. Currently, the price is running near $2,270. Influenced by Bitcoin, the four-hour chart followed with a small rebound, but the rebound strength is not significant. Short-term breakthrough of the oscillation range, although the MACD is in a bullish golden cross state, the continuity is not strong, and there is obvious demand for retracement above. In the short term, pay attention to the $2,250 support level. The daily MA7 is turning downwards, and the overall trend is still weak. If Bitcoin does not rise, Ethereum will inevitably retrace again. Choose the strong for long positions and the weak for short positions. The future strategy is as mentioned above, mainly long and partly short. Resistance above is at $2,280-$2,300, and support below is at $2,250-$2,220.

Disclaimer: The above content is for personal reference only and does not constitute specific operational advice, nor does it bear legal responsibility. The market situation changes rapidly, and the article has a certain lag. If there is anything you don't understand, feel free to consult.

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