Pionex: Latest Bitcoin Market Analysis on January 6

Article Published on January 6, 2025 - 01:30 AM

The current price of Bitcoin is 97,900, which is slightly higher than yesterday by a hundred points. However, the depth of the pullback has given us an opportunity to add positions. The average price after completing the buy at 97,500 and 92,000 has come to 95,600. Therefore, the preventive point for taking profits on the pullback is set at 96,000. As long as it does not break 96,000, we can continue to hold long positions. If it breaks, we will take profits first. Before that, we will continue to watch the previous high, and if it breaks, we can also take profits on half.

The K-line pattern on the order book is oscillating around 98,000, forming a relatively obvious range consolidation. There was a quick rise earlier, but it then entered a high-level consolidation phase. The MACD histogram shows signs of weakening momentum. Li Ying judges that there may be a need for a pullback in the short term, so precautions must be taken. The Relative Strength Index (RSI) is at a relatively high level, indicating a risk of pullback. The trend indicator EMA shows an overall upward trend, but the trading volume is decreasing, indicating weak buying interest and some selling pressure. Pay attention to the previous high resistance level; if it does not break, profits on long positions can be taken, and short positions can be attempted. If it breaks, we will continue to look upward.

Today's Reference Points:

• Long Entry: 97,000, Stop Loss: 96,500, Target: 99,000
• Short Entry: 99,000, Stop Loss: 99,500, Target: 97,000

Pionex: Latest Ethereum Market Analysis on January 6

Article Published on January 6, 2025 - 01:30 AM

The current price of Ethereum is 3,630. The market has returned to the starting point after some fluctuations, consolidating at a high level and gathering strength. The main force seems to have ulterior motives. The upward trend is much more apparent than the downward trend. Those who have already entered long positions should not rush to exit; continue to watch the previous high. Those who have not entered can wait for a pullback to support before entering. Be sure to set a stop loss; if it breaks below 3,600, Li Ying will not add to long positions. Originally, there was an opportunity to add at 3,550 for a long position at 3,330, but it is clear that the main bullish trend is too strong, making it difficult to pull back to support. For now, we can only hold.

Looking at the K-line pattern on the order book, it shows a typical oscillating upward trend, with lows gradually rising and highs continuously breaking through, showing multiple bullish candles, indicating strong buying power in the market. Long positions are effective. The MACD histogram is positive and expanding, indicating that we are currently in a bullish market. The Relative Strength Index (RSI) has not shown any significant pullback signals, suggesting that there is still upward momentum. The trend indicator EMA shows that short-term, medium-term, and long-term moving averages are all supporting price increases, with the strategy leaning towards long positions primarily and short positions as a supplement.

Short-term Strategy Reference:

• Long Entry: 3,550, Stop Loss: 3,500, Target: 3,750
• Short Entry: 3,700, Stop Loss: 3,750, Target: 3,550

The above is a brief analysis by Li Ying regarding the current market situation for investors' reference. Over the past ten years, Li Ying has continuously explored and experienced hundreds of different digital assets. Throughout this process, Li Ying has witnessed the brilliance of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons along the way. As a female trader striving in this challenging field, Li Ying feels a responsibility to share her insights, hoping to help others with dreams find their place in this ever-changing market and embark on their own successful journey.

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