January 20th Intraday Market Analysis

BTC Market Outlook

Bitcoin is currently in a sustained consolidation and fluctuation phase, with the amplitude gradually narrowing. The main trading range is between 93287 and 92156. Everyone needs to remain patient and wait for a clear directional signal to appear.

Honestly, recent trading of Bitcoin has been particularly difficult. After yesterday’s dip, it rebounded and broke through the 92812 resistance level, only to be halted again at the 93605 pressure level. The rebound was frustrated and started to decline, repeating this process three times—each time getting stuck between these two levels. The last time, it directly broke below 92812 and even tested near the previous low. So far, no new low has been made. It would be more ideal if a double bottom pattern could form here.

Key point: The previous low line must not be broken. If it drops further, 90068 will be the next target. To see an upward trend? First, it must break through 92812, then break through 93605 to form a higher high, which could allow for further upward movement. If it cannot break above but also cannot fall below, it will oscillate between 91821 and 92812, draining liquidity. Remember, as long as the previous low isn’t broken, there’s a chance; once it breaks 90068, it will definitely follow through.

Trading suggestion: A volume breakout above 92812 on the right side can be chased long. If it breaks below 92812 with volume but then rebounds and cannot recover, chase short on the right side. Regardless of the position, stop-loss control is essential.

On the hourly chart, as long as it stays above 92812, there’s a chance to target the 93605-94530 range. But the prerequisite is to hold this line; otherwise, everything is pointless. On the 4-hour chart, pay attention to the 92126 level. If it breaks below, look down to the 90775-89230 range.

Resistance levels: 92812-93605-94530
Support levels: 91788-90976-90066

ETH Market Outlook

For Ethereum, a volume breakout above 3200 on the right side suggests chasing long, but remember to set a stop-loss. If it falls below 3175 with volume, chase short on the right side, with a proper stop-loss set.

If it retraces to 3129 and confirms support is effective, add a long position. If it breaks below 3089, stop immediately.

On the hourly chart, if it can hold above 3200, look up to 3222-3263. Pay special attention to 3263, where a short can be taken, but if it breaks above 3300, stop-loss is necessary.

There is also a pending order area on the left at 3066 for long positions. If it falls below 3020, stop-loss.

Resistance levels: 3200-3222-3263
Support levels: 3177-3131-3085

From the 4-hour chart, if it breaks below 3176, look down to the 3133-89 range. Currently, Ethereum’s flag pattern has been broken, but after the breakdown, there was no acceleration downward; instead, four doji candles appeared consecutively, indicating that Bitcoin is choosing its direction. Will it break above 3219 resistance or below 3170 support? Once it consolidates around 3219, the decline will stop. But if it breaks below 3170, it will return to the consolidation zone marked by the red box on the left for sideways trading. For now, waiting and observing might be more profitable than rushing into a position.