Analyst Chen Shu: Bitcoin and Ethereum prices weakened again on January 26th, with the key support level at 80,000 being closely watched.

Analyst Chen Shu: Bitcoin and Ethereum prices weakened again on January 26th, with the 80,000 level acting as a key support level. Looking at the daily chart for Bitcoin, yesterday's price closed with a large bearish candle, breaking below the 8.85 support level. On the weekly chart, if the decline continues, the next support level to watch is the 120-day moving average (MA120) around 80,000. On the 4-hour chart, the focus is on the sustainability of this bottoming-out rebound. The resistance level to watch remains the 256-day moving average (MA256) around 90,000. On the 1-hour chart, the short-term resistance level to watch is the 120-day moving average (MA120) around 8.9. Looking at the daily chart for Ethereum, the price closed with a large bearish candle, approaching the previous bottom support level of 2800. Intraday focus is on whether 2800 holds. If it does, the price may continue to test the major support level of the 256-day moving average (MA256) around 2600. The resistance level to watch is the 1-hour MA120 around 2950, which is also the 30-day moving average (MA30) resistance level on the 4-hour chart. Midday Trading Strategy (Written at 13:00): BTC: Short at 8.9, add to short position on a rebound to 90,000, target 8.8/8.7; Long at 8.6/8.5 for a 1-2000 point rebound. ETH: Short at 2920, add to short position on a rebound to 2980, target 2860/2800; Long at 2750/2700 for a 6-100 point rebound. Daily analysis strategies have a very high win rate! Analysis is not easy, so please give a free follow, save, like, and comment. Thank you. Welcome to leave comments below for discussion, I will reply to each one.