January 10 Daily Market Analysis

Welcome to a pleasant weekend
Briefly discuss the market, Saturday generally has no trading space unless influenced by news

US stocks and precious metals rose across the board yesterday, with the S&P 500 hitting a new high again. The gold and silver trends predicted a rebound a week ago

Back to the market, Bitcoin surged immediately after the US stock market opened yesterday, forming a large bullish candle, but it did not follow through and quickly retreated, perfectly fitting the trading range characteristics. During yesterday’s live broadcast, I also advised everyone to go short high and long low within the 89800-91300 range. The logic is simple: no trend, the structure is a trading range, so follow the high short and low long approach

Because it did not fall to the bottom in the morning, the structure turned into an upward channel. Therefore, on a larger timeframe, it is a wide-range bear flag correction. If the trend line is broken, it’s still necessary to boldly short. If it falls below 89000 and returns near 87000
$BTC ‌
For ETH, the pattern is very similar to BTC, but the adjustment is within a trading range. Since the main trend is bearish, it’s more comfortable to short around 3130-3140.

This is only an analysis of the market, not investment advice

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