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

Bitcoin's recent market movement is quite interesting. Starting from the weekend, Bitcoin stabilized around 90,800 and then surged up to 94,800 before losing momentum. By midnight, a double top pattern appeared, and the price dropped back to around 91,300 to halt the decline. 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 rate cuts have been significantly lowered. Institutions and whales are also reducing their positions, trading volume has noticeably declined, 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, the current candle is bullish, 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 the candle closed bearish around 88,800, with a small support level 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 the 91,300-91,800 range for Bitcoin, with targets around 93,000-95,000. Ethereum's pullback to around 3,180-3,200 is also a good entry point for buying on dips. The resistance zones are at 3,280-3,300-3,350.
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