January 15th Bitcoin Market Analysis

Figure 1: At this time, the market is under pressure from the 3-day EMA52 (98,800). Although under pressure, the bullish multi-timeframe cycles still exist.
Figure 2: The current market is at the 1-hour level. The next focus is whether the bullish trend can continue to extend upward. However, it should be noted that the current range is not very complete. Although the bullish trend still exists, for intraday trading, it is still necessary to wait for a correction. The bullish correction should not be blindly chased. If the price breaks below 96,701, it needs to find support at the 30-minute EMA24 below, which is at 95,940. If it cannot rebound quickly, the market needs to reach the 1-hour EMA52 at 94,762. If the 1-hour level cannot rebound and rise quickly, the market will need to undergo a period of oscillation and adjustment. Bullish traders can wait until the 1-hour level to enter long positions, with stop-loss set at 97,260 on the 15-minute level.
Summary: The current market still maintains a lock-head trend and requires oscillation and adjustment. Regarding the daily chart, if the market cannot quickly rebound from the 30-minute EMA24 at 95,940, be cautious about aggressively chasing longs. Wait until the market reaches the 1-hour zone to observe and consider entering long positions. As for short positions, this is only a correction and rest.