January 14th Bitcoin and Ethereum Market Analysis: Key Points for BTC and ETH Today
Market Review
BTC saw a slight increase yesterday, with increased volume starting in the early morning, consistent with short-term bullish expectations. However, the overall trend remains bearish (long-term). Daily charts show recovering upward momentum and healthy indicators, suggesting further upside potential. Weekly charts are also showing signs of a rebound; we await opportunities to short at higher levels after the rebound reaches a suitable point.
Bitcoin (2) is rising in tandem with BTC ( 1), and trading volume is increasing on the 4-hour chart, aligning with short-term bullish expectations. However, the upward momentum on the daily chart hasn't shown significant increase. We should watch for a pullback and consolidation. The larger timeframe remains bearish, but a short-term consolidation could warrant considering further gains.
Altcoins are rising in tandem with mainstream cryptocurrencies, but overall liquidity remains poor. We'll wait for altcoins to stabilize before making any moves. Alpha activity points requirements are getting increasingly higher, so we've paused point farming and will consider restarting it once the requirements decrease.
Intraday Market Analysis
BTC is trading above its healthy range on the 1-hour and 4-hour charts, while it has returned to its healthy range on the daily chart. Intraday focus should be on volume changes; a sustained break above this level could warrant further buying. Intraday support levels are 93500-94000, while resistance levels are 96500-97500.
ETH is trading above its healthy range on the 1-hour and 4-hour charts, while returning to its healthy range on the daily chart. Intraday focus should be on volume changes; a sustained break above this level could warrant further buying. Intraday support levels are 3250-3300, while resistance levels are 3400-3500.
