Analysis of the Afternoon Market Trend for Bitcoin and Ethereum: 1/17 The current market is in a range-bound consolidation phase, with prices fluctuating between key support and resistance levels, lacking clear directional momentum in the short term. From a technical perspective, the Bollinger Bands are contracting, indicating low market volatility, with prices near the middle band, reflecting a balanced market sentiment. However, the moving average system shows a bearish alignment, and the long-term trend remains weak. Although short-term prices have broken through short-term moving averages, they have not formed an effective trend continuation, revealing a contradiction between trend and price action. Given the current range-bound state, with technical resistance near 95536.9 and the Bollinger Bands indicating low volatility, adopting a strategy of shorting near resistance levels aligns with the current market characteristics. Therefore, afternoon trading suggestions focus on buying on dips below resistance points for a rebound to higher levels.
Bitcoin around 95500-96000 can be shorted, watch for opportunities around 95000-94500 and the second Bitcoin at 3300-3320, with attention to 3260-3230.
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Analysis of the Afternoon Market Trend for Bitcoin and Ethereum: 1/17 The current market is in a range-bound consolidation phase, with prices fluctuating between key support and resistance levels, lacking clear directional momentum in the short term. From a technical perspective, the Bollinger Bands are contracting, indicating low market volatility, with prices near the middle band, reflecting a balanced market sentiment. However, the moving average system shows a bearish alignment, and the long-term trend remains weak. Although short-term prices have broken through short-term moving averages, they have not formed an effective trend continuation, revealing a contradiction between trend and price action. Given the current range-bound state, with technical resistance near 95536.9 and the Bollinger Bands indicating low volatility, adopting a strategy of shorting near resistance levels aligns with the current market characteristics. Therefore, afternoon trading suggestions focus on buying on dips below resistance points for a rebound to higher levels.
Bitcoin around 95500-96000 can be shorted, watch for opportunities around 95000-94500 and the second Bitcoin at 3300-3320, with attention to 3260-3230.