Good evening everyone, I am Xin Ya. I hope everyone managed to capture two waves today. The overall intraday volatility is not significant, and the trading volume only increased when it touched a few important levels. Our expectations from yesterday were partially validated by the market. I hope everyone got a piece of that.

Let's briefly review a segment. After the big coin spiked to around 88500 at eleven o'clock on January 22, it formed a doji candle in one hour, followed by a bullish doji candle. This not only indicated that the divergence was still present but also showed that the market's willingness to support was still there. It then operated with reduced volume, and after the price touched the 90000 mark, it faced pressure and fell back to around 89000, the divergence zone of the previous two doji candles. Four consecutive hourly bullish candles pushed the price to around 89600, where selling pressure increased, and after the price returned to 89500, it began to rebound. The oscillation range was very small, consolidating between 88500-90000 for a day, with most of the time spent running above. There were six hourly doji candles in the narrow intraday oscillation range, concentrated around 88800-89000, which we can mark for future considerations. We need to observe whether it will oscillate around the center or if it will buy and build a bottom.

The operation of Ethereum has been a bit torturous. Since the doji star formed on the 22nd, there has been a divergence between volume and price, and it has been moving in sync with the big coin, but the sentiment for support is not high. A small amount of buying has pushed the price up to around 2980 with difficulty, followed by a tug-of-war where the selling pressure and sentiment were stronger than that of the big coin. By ten o'clock in the evening, the price dropped to around 2890, and the market was leaning towards panic. This kind of movement is very torturous for the long positions that are trapped above, especially for those who entered around three thousand. Some retail investors, seeing the big coin performing strongly, may heavily chase Ethereum for those few points, only to end up getting trapped even deeper.

Due to the weekend, liquidity is generally low, and there may be news-driven movements, which we will ignore for now. The market has already digested most of the news that has emerged. In the current operating range, unless there is very strong policy support, it is difficult to determine the direction. Currently, the upward channel is in operation, with limited space below. The four-hour Bollinger Bands are narrowing, with the upper EMA144 around 91500, the one-hour EMA120 around 91000, and the fifteen-minute EMA around 89500. It looks like the small levels are influencing the larger levels, but in reality, it is just through operation that the moving averages and candlesticks will get closer. For Ethereum, the four-hour EMA30 and the one-hour EMA120 and EMA144 are all around 3050. We can consider this as short-term pressure. The big coin is around the aforementioned 91200.

The future operation will still depend on whether the pressure zone of the previous market around 89500-90500 can stabilize and break through. This area is very important as it is the central zone from early December and the pressure zone from late December, as well as the starting point for this month's mid-month rally. If it can stabilize above here, the direction of the future market will become clear. In the short term, we will focus on waves, with the main range set at around 88500-89800, and the expanded range or replenishment zone at 87800 and 90500. Stop losses should be handled according to personal habits. For Ethereum, be a bit more conservative than yesterday, targeting 2880-3000, with the lower stop loss set around 2850. The upper side still has significant pressure, with the possibility of expansion, so try to focus on going long.

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