Bitcoin and Ethereum Market Analysis (January 5th): Key Points for BTC and ETH Today
Market Review
BTC continued its upward trend yesterday, showing a slight recovery, but without any significant positive factors or a noticeable increase in trading volume. The overall trend remains bearish (long-term). In the short term, a rebound is needed, and attention should be paid to whether the price can hold its ground. On the daily chart, focus should be placed on changes in trading volume, waiting for a pullback and stabilization. The weekly chart is starting to flatten, awaiting a weekly rebound.
Bitcoin (2) followed BTC ( 3) upwards, breaking through the previous resistance zone, but trading volume did not increase. On the daily chart, pay attention to volume and whether it can hold above the previous support level. The larger timeframe remains bearish; a short-term hold above the previous support level could be a good entry point.
The altcoin market is consolidating in sync with mainstream trends, but overall liquidity remains poor. We'll wait for the altcoin market to stabilize before making any moves. Alpha activity points requirements are getting increasingly higher, so we've suspended point farming and will consider restarting it once the requirements decrease.
Intraday Market Analysis
BTC is above the healthy range on the 1-hour and 4-hour charts, and has returned to the healthy range on the daily chart. Intraday focus should be on volume changes. Intraday support is at 91000-90100, and resistance is at 93500-94000.
ETH is above the healthy range on the 1-hour and 4-hour charts, and has returned to the healthy range on the daily chart. Intraday focus should be on volume changes. Intraday support is at 3100-3130, and resistance is at 3250-3300.
