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Gate ELSA Futures Trading Challenge is Now Live!
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1.23 Friday Bitcoin and Ethereum Afternoon Analysis
Currently, market volatility is limited, maintaining a weak trend, and it is still suitable to establish short positions. Recently, prices have been oscillating within the key level zone around 90,000, neither effectively breaking downward nor forming a significant rebound.
From a time cycle analysis, the past two days show a regular pattern of a rebound in the early session followed by a decline during the European and American trading hours. Considering today is Friday, unless there is a major fundamental change to break the current pattern, a range-bound trading strategy should continue.
Bitcoin around 89,500 looking at 88,000
Ethereum around 2,950 looking at 2,850
#BTC #ETH #BNB