Mufeng Looks at Trends: Bitcoin/Ethereum Market Analysis and Trading Suggestions for January 22nd Early Morning

The long position strategy based on the pullback that was set up yesterday afternoon has successfully reached the target for profit-taking. The market experienced a rise followed by a drop in the evening, and currently, the short-term trend is leaning towards a fluctuating adjustment. From a daily chart perspective, considering the significant drop of the last main chart K, there is a large gap with the five-day moving average. Additionally, the market price has fallen near the lower Bollinger Band, and there is no significant opening at the lower band, indicating strong short-term support. The gap created by the main chart also needs to be repaired urgently. Therefore, in the early morning, we will first look for a technical rebound adjustment. It is important to note that the rebound is merely a technical repair, and once the adjustment sentiment ends, the market will continue to decline with increased volume. Thus, the trading suggestion is to first participate in long positions on pullbacks, and after the rebound repair adjustment is completed, consider short positions in line with the trend. Specific points of reference are as follows:

BTC: Long at 87500-87000, target 89000

ETH: Long near 2890-2870, target 2960

The above are personal trading suggestions for the early morning. The market is ever-changing, and the article may have some lag; please refer to real-time guidance for specifics.

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