1.16 Morning Market Analysis: Bitcoin & Ethereum Trading Strategies

Volatility consolidates experience, review to anchor direction. Last night, Bitcoin tested the 95304 level and then launched a rebound. After surging to the key resistance of 97000, it faced resistance and pulled back; Ethereum also retraced to support at 3266, and after pushing up to the 3380 resistance level, it was similarly pressured and halted. Both major cryptocurrencies showed weak short-term rebounds.

From the 1-hour technical chart, after the rebound, the market quickly retraced. The candlestick recorded a long upper shadow, highlighting the accumulation of selling pressure above. The bullish momentum has clearly weakened. On the indicator level, the MACD death cross continues to diverge, indicating that the bearish force dominates the short-term market; the Bollinger Bands are opening downward, and the downward channel is officially open, suggesting the overall market is in a weak consolidation pattern.

Trading Strategy Suggestions

- Bitcoin: Recommend short positions in the 96000-96500 range, targeting the 94500-93600 zone
- Ethereum: Recommend short positions in the 3330-3350 range, with a target down to the 3250 level