"Market Analysis for 1.14: Reaching a New High Again, Then Pulling Back into a Narrow Range to Close January"

Yesterday's market finally reached a new high again. Since Monday, we've been discussing the height of this wave. The overall expectation is to hit around 96,000 near the 4-hour Vegas channel. Currently, Bitcoin is pulling back slightly from this level. Many altcoins are also starting to catch up. Since we've reached a new high again, the CCI indicator is also testing the zero line (which won't go up instantly), and the OBV shows no increase, indicating no breakout from the 4-hour Vegas channel. So, this is just a test of the top, not a trend reversal.

Therefore, after this peak, the market will enter a correction phase within a narrow range. In January, it will mainly oscillate sideways to prepare for a trend rally in February.

$BTC Bitcoin's short-term resistance today is at 96,500. The next resistance levels are at 98,100-98,500. However, I believe the probability of breaking above 98,000 again is very low. The market is now showing signs of oscillation, indicating a correction. The initial target for the correction is in the support zone of 92,100-92,600, with a deeper correction possibly around 90,800.

$SOL Sora yesterday, we bought long at 140.5, with a take profit at 145. Unexpectedly, it caught up to 148. Currently, support is at 141, with 136.3 also being a potential rebound level. The next resistance is around 150.8.

$ETH Ethereum is more of a catch-up move. Support levels are at 3170-3150. The frustrating part is the fake breakdown to between 3020-3010, then a quick rebound.

In summary, after this new high, lower your expectations for a breakout. This is not the start of a trend. The market will soon enter a correction phase within a narrow range. The key focus now should be on how we position ourselves for the trend rally in February after the correction. This is our top priority from the end of January to February. If you don't understand the market or can't grasp the direction, welcome to join the Chief Analyst. Click to join the Chief Analyst community (Follow the Chief for daily market analysis and precise entry points. Long and short signals are for reference only, with strict stop-loss and take-profit rules).