Analyst Chen Shu: On January 26, Bitcoin and Ethereum market conditions weakened again, with a key support level of 80,000 to watch below.

From the daily chart of Bitcoin, the price closed with a large bearish candle yesterday, breaking below the 88,500 support level. If it continues to decline on the weekly level, it may test the MA120 daily moving average support at around 80,000. On the 4-hour chart, we should pay attention to the continuation of this round of bottom rebound, with the upper resistance still focusing on the 4-hour MA256 daily moving average at around 90,000. On the 1-hour chart, the short-term resistance level is at the MA120 daily moving average at around 89,000.

From the daily chart of Ethereum, the price closed with a large bearish candle, approaching the previous bottom support at around 2,800. During the day, we should monitor the situation if it breaks below 2,800. If it does, it may continue to test the weekly MA256 daily moving average support at around 2,600. The resistance level to watch is the MA120 daily moving average at around 2,950 on the 1-hour chart, which is also the resistance level of the MA30 daily moving average on the 4-hour chart.

Afternoon trading strategy (written at 13:00):

BTC: Short at 89,000, add to short on a rebound to 90,000, target 88,000/87,000; look for a long at 86,000/85,000 for a 1,000-2,000 point rebound.

ETH: Short at 2,920, add to short on a rebound to 2,980, target 2,860/2,800; look for a long at 2,750/2,700 for a 6-100 point rebound.

The daily analysis strategy has a very high win rate! Analysis is not easy, so I hope everyone can give a free follow, save, like, and comment. Thank you all, and feel free to leave comments below; I will reply to each one.

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