Bitcoin and Ethereum Market Analysis for January 28th: Key Points for BTC and ETH Today
Market Review
BTC saw a slight increase yesterday, followed by a pullback this morning. Currently, the 4-hour rebound momentum remains weak. Patience is advised while consolidation is expected. The overall trend remains bearish (long-term). In the short term, a weekly rebound is possible. The daily chart hasn't broken down yet, and further stabilization is expected, with upward potential remaining. The weekly chart also suggests a potential rebound; wait for a rebound to reach a suitable entry point for shorting opportunities.
Bitcoin (2) is consolidating in tandem with BTC), but the upward momentum on the 4-hour chart hasn't shown significant growth. Patience is advised. On the daily chart, watch for a potential hold above this level. The larger timeframe remains bearish, but a short-term hold above this level could present an opportunity to follow the trend.
The altcoin market is consolidating in sync with mainstream trends, but overall liquidity remains poor. We'll wait for altcoins to stabilize before considering further action. Alpha activity points requirements are increasingly stringent, so we've suspended point farming and will consider restarting it once the requirements decrease.
Intraday Market Analysis
BTC is below the healthy range on the 1-hour and 4-hour charts, and also below the healthy range on the daily chart. Watch for stabilization today. Intraday support is at 87500-88000, and resistance is at 89500-90000.
ETH has returned to its healthy range on the 1-hour and 4-hour charts, but is currently below it on the daily chart. Intraday focus should be on whether it can stabilize. Intraday support levels are at 2900-2950, while resistance levels are at 3020-3070.
