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Wednesday, January 14 Market Observation
From the daily chart, Bitcoin has strongly broken above the upper Bollinger Band and stabilized above a key resistance level, with the bulls fully in control. The upward trend has been established on a larger timeframe, and technical indicators are all bullish—moving averages are nicely aligned, volume continues to support, and the upward momentum remains strong.
On the 4-hour chart, the trend becomes even clearer. Price has been soaring above the Bollinger Bands, the MACD golden cross is still ongoing, and the red histogram bars are steadily enlarging, indicating that buying pressure has not weakened. The RSI is moving upward but has not yet entered the overbought zone, leaving room for further gains. The bears are showing little resistance, with solid support below, and limited room for a pullback.
Technical outlook:
$BTC can look for long entries in the 94500-95000 range, with an eye on 97200
$ETH can attempt around 3280-3300, targeting 3450
Follow-up on $ZEC.