In the past 24 hours, 155,150 people were liquidated globally, with total liquidations amounting to $564 million! Yesterday's CPI exceeded expectations, the unemployment rate climbed, and cooling CPI has built ample room for rate cuts by 2026. The final market-moving news today is the expectation of a rate hike in Japan. There will be no major news for the next few weeks.
Today's trading opportunities for BTC and Ethereum don't need much explanation—stick to the old rule: look for opportunities to go long on deep dips; chasing shorts after a sharp drop requires lightning-fast hands. Today, continue to go long on deep dips, take profits to create room, and push protective stops with stop losses!
BTC
Last night, BTC once again rebounded to the resistance zone of $89,000-$91,000 before being rejected and falling, breaking below the low of December 16th, maintaining a震荡下跌趋势 (volatile downtrend).
Currently, Bitcoin's daily candle continues to close bearish, again facing resistance at the middle Bollinger Band, forming a long upper wick. It found support and rebounded at the lower band after pulling back. The downward space hasn't fully opened yet. Although the lower band is opening downward, the room is limited. So, only look for highs to short, and absolutely do not chase the downside!
(1) Japan's interest rate decision is announced today, which could have a significant impact on the crypto market. Prioritize shorting on rallies, but a small V-shaped rebound is also possible.
(2) BTC has two key lows remaining below: $83,800 and $80,600. The market makers' usual trick is to sweep the liquidity below these key lows with a wick before bouncing back up, completing a double bottom.
(3) Focus on resistances above at $87,800, $89,500, and $90,500. Plan short entries around these levels intraday.
ETH
ETH's daily chart shows a death cross again, still in a downtrend. It touched the upper trendline and accelerated downward again, then hit support below, even breaking the short-term low, indicating bears remain very strong.
(1) On lower timeframes, the price has hit support and has a need to rebound. Continue to enter long positions in the $2830-$2800 range, targeting the $2930-$2960 range.
(2) The market is currently experiencing large swings up and down. If it rebounds and smaller timeframes show pinbar or topping signals, I will consider closing longs and going short. Will enter specifically based on the situation.
Altcoins
Altcoin sentiment is低迷 (sluggish/low) and overall volume isn't high. Some have fallen to key support and stopped falling, attempting self-recovery, indicating retail has truly capitulated. Only the stubborn holders remain who won't sell. Later, only after the fundamental situation eases will they stop falling and rebound.
SOL
SOL pulled back in the late night/early morning hours, creating the lowest point within 24 hours. Long entries taken at the low late night can aim for a small rebound during the day. For example, SOL hit $116.71 around 3 AM.
In the current weak market condition, it generally needs to反弹 (rebound) to around $124 before potentially falling back to $112. The $133.96 - $116.71 move is a complete wave, which has already finished.
UDOG
Binance's newly launched stablecoin U. The first wave saw sufficient turnover internally. Later, it's highly possible memes will be used to promote the new stablecoin's status. This narrative is not bad, market cap is also suitable!
However, when checking KOL holdings, many small airdrop accounts were found, including CZ's GMGN account, each address only received a few tokens, suspect of fake marketing引流 (traffic generation). Such a stingy airdrop suggests the market makers' vision might not be great either.
Focus on stability in a bear market. Don't blindly follow the hype. If it's not the best entry point,宁可错过都要剁手! (Better to miss out than FOMO and get rekt! Literally: would rather miss it than chop off hands!)
RTX
Total Token Supply: 100 million; Initial Circulation: 16.66 million (16.66%); Pre-market & Pool Price: $1.2; Corresponding Circulating Market Cap: $20 million, FDV: $120 million.
Binance Alpha supports SOL, but as a SOL DEX, its main pool is on BSC. 5% of tokens are on BSC, and users receiving airdrops are advised to go to BSC. Hard to understand.
Project perception is average, trading volume is also average, no major advantages. Short-term selling mainly comes from the airdrop. Pre-market cap is normal, neither high nor low. Keep an eye on it at launch.
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