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Saturday, 1.18 Bitcoin and Ethereum Midday Analysis
From the four-hour chart analysis, Bitcoin is experiencing a healthy technical correction. The multiple occurrences of lower shadows indicate strong buying interest at low levels, and the pullback is within a controllable range. The bottom formed by the previous large bullish candlestick constitutes a key support level. As long as it remains above this level, the overall upward structure remains intact. The current consolidation phase can be seen as a buildup for the next rally. On the hourly chart, the overbought condition has been largely digested, short-term volatility has narrowed, but the upward trend line remains intact.
Bitcoin around 94,800 looks towards 96,800
Ethereum around 3,270 looks towards 3,380
#BTC #ETH #BNB