2024-1-29 Currency market analysis

The following content does not constitute any investment advice, only analysis. (Written at 7:03 a.m. on the 29th, domestic time)

1. BTC

’s weekly closing has stood above the 40700 support, restoring the bullish trend, but it is still not recommended to blindly look at the bullish trend. .

4-hour level BTC is currently encountering obvious pressure at the 0.382 position, failing to successfully break through the pressure level of 42200-42500, and has not yet tested the support level of 40700. Therefore, the previous rise from 38,500 to now can only be regarded as a rebound, and blind entry is not recommended.

Currently, we have to focus on the chip area of ​​41500-41600. If we can conduct a test in this area and successfully break through the suppression zone of 42200-42500, then we can continue to focus on the next suppression zone near 45000. However, if the price falls below the large support level of 40,700, it means that the market will enter a period of volatility. And if it falls strongly below 40,700 again, the Bitcoin price may return to around 38,000.

2. ETH

Currently, ETH has been tested twice on the lower track of the box, paying attention to the support near 2240. If it fluctuates upward after receiving support, there is a chance to break through the downward trend line and test the upper track of the box between 2410-2430 again.

I am still firmly optimistic about ETH and suggest stocking up on dips.

Thanks for reading. The currency circle is very risky. The above only represents my personal opinions. Please make your own judgment and be responsible for your own investment. good luck!

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