Bitcoin and Ethereum Market Analysis (January 6th): Key Points for Today (BTC & ETH)
Market Review
BTC continued its upward trend yesterday, with the market showing signs of recovery, but no significant positive factors were observed. Trading volume increased slightly, and the overall trend remains bearish (long-term). Short-term focus is on the rebound and whether it can hold. The 4-hour chart shows a rapid rise, suggesting a potential short-term pullback. On the daily chart, pay close attention to volume changes and wait for a pullback and stabilization. The weekly chart shows a rebound beginning; wait for a rebound to reach a suitable level before considering shorting opportunities.
Bitcoin (2) rose in tandem with BTC ( 1), but trading volume failed to increase, suggesting a short-term pullback is likely. It's awaiting stabilization. On the daily chart, pay attention to volume and whether it holds above the previous support level. The larger timeframe remains bearish; a short-term stabilization could warrant considering further buying.
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 92500-93000, and resistance is at 94500-95000.
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.
