January 15 Market Observation

Recently, many people attribute the recent rally to positive CPI data, but in fact, the market itself has already accumulated sufficient upward momentum—CPI was just the spark that ignited it. All kinds of positive news fermenting together pushed the price higher.

Interestingly, the strength of Bitcoin's surge is weakening. Previously, a single wave could rise four or five thousand points; this time, it's only about two thousand points, indicating signs of waning upward momentum and a clear softening compared to last week's ferocity. However, it’s important to clarify—weakening momentum does not mean a reversal. The current market is still in the accumulation phase of an upward cycle, and it’s likely to continue exploring higher levels. Shorts should not rush to catch the bottom.

From the candlestick structure, Bitcoin's daily chart has been consistently bullish, with yesterday's strong breakout through previous resistance levels showing clear bullish characteristics. On the hourly chart, the price oscillates around 97,000, indicating a short-term need for a pullback.

Technical indicators: The hourly MACD is operating above the zero line but with shrinking red bars, suggesting some weakening of bullish momentum; the daily MACD red bars are still expanding, indicating a strong continuation trend. The hourly RSI has reached 75, approaching overbought territory, so caution is needed for a pullback; the daily RSI remains stable above 70, maintaining its strong attribute. Moving averages: both the hourly and daily EMA systems are still in a bullish alignment, providing solid support.

The trading strategy is to buy on dips.

#美国就业数据不及预期 Buy in the 95200-96200 range, target 97800-98800
$BTC Buy in the 3270-3310 range, target 3390-3430