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January 16th midday Bitcoin and Ethereum trading suggestions and outlook
Financial freedom is not about account numbers; it's about having the confidence to say "No" to your boss. You don't need to get rich overnight; you just need to understand a little more, be steadier, and be less impulsive than yesterday. The crypto market doesn't support gamblers, only clear-headed long-term believers. After hitting a low of around 95080 in the early morning, the market stopped falling and is now fluctuating around 95760. The second Bitcoin contract also dipped to around 3266, showing solid support below, then rebounded to around 3300 with fluctuations. Overall, this aligns with our strategy of high sell and low buy in the early morning.
Looking at the current market, the 4-hour chart shows a pattern of mixed bullish and bearish signals, with the Bollinger Bands slightly converging. The KDJ indicator is in the oversold zone, indicating a short-term rebound potential. On the 1-hour chart, the Bollinger Bands are expanding, with the middle band continuously declining below the lower band. In the short term, the middle and lower bands serve as support and resistance levels. Given the overall downtrend, the previous lows effectively act as support, indicating solid support below. Although the MACD is below the zero line, the red energy is gradually decreasing, showing signs of a reversal and confirming a rebound trend. Therefore, midday trading should mainly focus on buying near support levels and pulling back.
For Bitcoin, consider buying around 95500 to 95000, watch for 97000.
For the second Bitcoin contract, consider buying around 3300 to 3270, watch for 3400.