Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
"Market Analysis for January 20: Be Patient During the Bottoming Phase, Wait for February to Bloom"
Yesterday's market, after a decline, showed little strength in the rebound. Last night's live session also mentioned that there might be further lows in the short term. Moreover, the bottoming process here will be quite boring, testing the patience of retail investors. But there's no other way to get results; only by remaining patient and enduring this phase with the main force can we wait for the market to turn around!
$BTC Support below Bitcoin is at 90800 and 90200; resistance above at 94200 remains a difficult barrier. In the short term, a volatile bottoming trend is unavoidable, so patience is key when holding positions. $SOL For the second test below the index, watch around 130.5 to see how support holds; if there's a sharp move, check support around 126. Resistance above is at 137, and if it can't break through, a significant rise will be difficult. Focus on these three levels in the past few days. $ETH Support below the Air Force Camp is between 3150-3130. If it drops again, the target for a quick dip could be around 3020-3010. Resistance above is at 3260, but a strong upward move remains challenging.
In summary, this market phase was clearly explained yesterday: it's destined to be boring and frustrating. So, at this stage, the best approach is to stay flat and avoid overtrading. As long as the main force doesn't make big moves, we should continue to remain passive until a new trend emerges in February. Stay patient and wait for the bloom! If you don't understand the market or can't determine 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 positions are for reference only; strict stop-loss and take-profit are essential).