#比特币与黄金战争 Bitcoin and Ethereum Market Review for January 7

Bitcoin's recent market movement is quite interesting. Since the weekend, Bitcoin stabilized around 90,800 and then surged up to 94,800 before losing momentum. By midnight, a double-top pattern appeared, causing a sharp drop back to around 91,300 before the decline stopped. The rebound was relatively strong, indicating buying interest still exists.

On the macro front, there have been many news updates these days. Geopolitical tensions are escalating, and US-China relations are also fermenting, providing the market with some breathing room. However, the enthusiasm from the second rate cut has faded, and expectations for further cuts have been significantly lowered. Institutions and whales are also reducing their positions, trading volume has noticeably decreased, and the overall market is fluctuating within a wide range.

From a technical perspective—monthly charts have shifted from bearish to bullish. After four consecutive bearish candles, a bullish candle has appeared, hovering near the mid-line, but the overall trend remains weak. The weekly chart shows two consecutive bullish candles with decreasing volume, facing significant resistance above. The price is gradually moving downward, and the resistance around 95,000 needs close attention. If it cannot break through, it could be risky. The key support level is at 84,000.

On the daily chart, after touching the upper band, the bullish momentum was suppressed, and a bearish candle formed around 88,800, which is a minor support to watch. In the short term, the 4-hour chart has already shifted from bullish to bearish and is starting to break down, and the hourly chart is also in a bearish phase.

Trading strategy: Look for long opportunities in Bitcoin around 91,300-91,800, with targets in the 93,000-95,000 range. Ethereum's pullback to around 3,180-3,200 is also a good entry point. Resistance levels are at 3,280-3,300-3,350.