Analyst Chen Shu: Bitcoin and Ethereum are consolidating on January 23rd, with a rebound expected intraday. Watch for a break and hold above 90,000.

Analyst Chen Shu: Bitcoin and Ethereum are consolidating on January 23rd, with a rebound expected intraday. Watch for a break and hold above 90,000. Looking at the daily chart for Bitcoin, there have been three consecutive red candlesticks, with the price consistently suppressed by the 60-day moving average (MA60) around 90,000, and the 30-day moving average (MA30) at 91,000. On the 4-hour chart, the key short-term resistance level is the 256-day moving average (MA256) around 90,000. A break and hold above this level could lead to further upward movement; conversely, failure to break through suggests continued weak consolidation. I believe a rebound is more likely in the near term, and intraday buying on dips is recommended. Ethereum, on the daily chart, is also suppressed by the 60-day moving average (MA60) around 3060 and the 30-day moving average (MA30) around 3100. On the 4-hour chart, the first resistance level to watch is the 256-day moving average (MA256) around 3070. Support is seen at the bottom of the consolidation range around 2930. Midday Trading Strategy (Written at 11:00 AM): BTC: Buy at the current price of 8.95, add to the long position on a pullback to 8.86, target 9.05/9.15; Sell at 9.1/9.2 for a 1-2000 point pullback. ETH: Buy at the current price of 2950, add to the long position on a pullback to 2910, target 3000/3060; Sell at 3080/3130 for a 6-100 point pullback. Daily analysis strategies have a very high win rate! Analysis is hard work, so please give a free follow, save, like, and comment. Thank you! Welcome to leave comments below for discussion; I will reply to each one.