Pionex: Latest Bitcoin Market Analysis on January 7

Article Published on January 7, 2025 - 01:20 AM

The current price of Bitcoin is 102,000. Suddenly, the bulls have opened up. Since the first day of this year, Pionex has reminded everyone to position long above 90,000. As of the time of writing, the 92,000 level that Pionex positioned has already provided a space of 10,000 points. Some say Pionex is greedy, but it’s not greed; I set a take-profit point for a pullback, which just hasn’t been hit yet. So, we continue to look at the previous high. Half was sold at the 100,000 mark, and the remaining base position has not been exited. As long as the pullback does not break 100,500, Pionex will still hold on and continue to look upward.

Looking at the market, there has been a clear upward trend in Bitcoin recently. The technical indicator MACD shows that the current market is in a strong upward phase. The Relative Strength Index (RSI) has entered the overbought zone, but we still need to pay attention to whether it will continue to operate in the overbought zone to confirm the trend. The trend indicator EMA shows a bullish arrangement in the short, medium, and long-term moving averages. Pionex supports the current upward trend, with funds actively entering the market to push prices up. There is no reason for Pionex to exit here. For those who haven’t entered yet, they can continue to go long on the pullback support, while being cautious about shorting for now.

Today's Reference Points:

• Long Entry: 100,000, Stop Loss: 98,500, Take Profit: 97,500, Target: 103,000
• Short Entry: 103,000, Stop Loss: 104,500, Take Profit: 105,500, Target: 100,000

Pionex: Latest Ethereum Market Analysis on January 7

Article Published on January 7, 2025 - 01:20 AM

The current price of Ethereum is 3,690. The significance of trading time for space is now evident. The persistence of the bulls has meaning. The continuous strategy has been to go long on pullbacks to 3,330. Each time this position is revisited, I keep a base position without exiting, simply because this level has not been broken, indicating strong support and a demand for rebounds. At 3,700, Pionex chose to take profit on half again. If it pulls back to 3,600, I can continue to add to my long position; if it doesn’t reach that, I will hold on and continue to look at the previous high.

The current K-line pattern shows a clear upward trend, with lows gradually rising and highs continuously breaking through, showing multiple bullish candles, indicating strong buying power in the market. The MACD technical indicator needs to be monitored for any further downward movement. The RSI is close to the overbought zone, and there may be some pullback pressure in the short term; otherwise, Pionex wouldn’t have chosen to take profit at 3,700. The trend indicator EMA shows a bullish arrangement, indicating a positive medium to long-term trend, so there’s no rush to liquidate to avoid missing the opportunity to enter. For those who haven’t entered yet, they can wait for a pullback to support before continuing to go long, while being cautious about shorting.

Short-term Strategy Reference:

• Long Entry: 3,600, Stop Loss: 3,550, Take Profit: 3,500, Target: 3,800
• Short Entry: 3,800, Stop Loss: 3,850, Take Profit: 3,900, Target: 3,600

The above is a brief analysis by Pionex regarding the current market situation for investors' reference. Over the past ten years, Pionex has continuously explored and experienced hundreds of different digital assets. Throughout this process, Pionex 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, Pionex feels a responsibility to share her insights and hopes to help others with dreams find their place in this ever-changing market and embark on their own successful journey.

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