Yueying: Bitcoin and Ethereum Market Analysis (January 30th) - Will Black Friday Continue with a Break Below 8? Short-Term Trading Suggestions Included

Bitcoin's daily chart shows a sharp drop after breaking through short-term support, with the previous candlestick closing as a solid bearish candle. The price opened lower again today, testing the downside. The Bollinger Bands are widening, short-term moving averages are turning downwards, the MACD fast and slow lines are extending downwards with increasing volume, the KDJ indicator, after turning upwards, crossed downwards again, and the VR indicator is consolidating around 100. On the 4-hour chart, the price broke below the lower Bollinger Band and continued to test downwards. Although it has rebounded back above the upper Bollinger Band, the rebound is limited. The Bollinger Bands are widening, short-term moving averages are extending downwards, the MACD fast and slow lines are crossing downwards with increasing volume, the KDJ indicator found support and turned upwards but shows signs of flattening, and the VR indicator is consolidating around 60. Overall, the price has experienced another sharp decline. The previous rebound after breaking below the 90,000 level failed to stabilize, and the subsequent break of short-term support levels confirms the technical indicators, showing signs of a sharp drop and acceleration. We are currently in a bear market cycle, so try to follow the market. The price is currently testing lower levels again. If the 80,000 level fails to hold, it will accelerate towards testing the 77,000 area. For short-term trading, use the 80,000 level as a support level. Watch for resistance around 85,000. See short-term suggestions. Bitcoin short-term suggestions: Buy at 80,800, Sell at 84,200 (Take profits as needed). Ethereum's movement follows Bitcoin's. After a false break below 2700, it recovered, but the momentum is still limited. Use the daily and 4-hour charts as a reference for Bitcoin's technical indicators. Watch for support around the previous low of 2620. If it breaks, it will test the 2530 area. Watch for resistance around 2800, and then below 2900. See short-term suggestions. Ethereum short-term suggestions: Buy at 2650, Sell at 2790 (Sell at 2880) (Click the image to see the homepage introduction for more cryptocurrency analysis) — I am Zhou Yueying.