From the current market situation, Bitcoin's second attempt to break through the 98,000 integer level has failed, and it hasn't even surpassed the previous high. This signal is not very promising.



**Bitcoin's Pattern Issue**

Carefully observe the K-line trend: the highs are gradually declining, and the lows are also decreasing. This double-top and double-bottom pattern often indicates a weakening trend. The previously supported triangle has been broken, and more concerningly, a clear M-head pattern has appeared inside, with the neckline of this M-head also failing to hold. On the hourly chart, the M-head pattern has been confirmed.

Currently, Bitcoin is experiencing a typical wire-netting market—oscillating back and forth within a very narrow range, indecisive about the direction. This state tests patience the most.

**Key Position Battles**

If Bitcoin can re-establish above the 95761 level, the current downward trend may stop, and it might oscillate repeatedly between 97030 and 95761. But once it cannot stay above 95761 for a long time, the next support to watch is 94523.

Looking further down, if 94523 also fails to hold, 93172 becomes the last lifeline. This level is critical—if 93172 is broken, the entire bullish trend could be declared over, and a downward correction wave will follow.

**Trading Strategy Overview**

On the hourly chart: After Bitcoin volume-breaks above 95761, consider chasing long positions. A rebound near 97030 can be taken with a small position to short. If it can directly break through 98,000 to make a new high, remember to set a stop-loss. Once the hourly chart stabilizes above 95761, look upward toward the 97030 to 98068 range. Conversely, if it cannot get above 95761, don’t expect it to rise.

On the 4-hour chart: If the 95101 level is broken, the target shifts downward to 94521 to 93048.

Resistance levels from bottom to top are: 95761, 97030, 98068. Support levels are: 95101, 94521, 93048.

**Ethereum's Rhythm**

Ethereum's performance is relatively more stable. The trading approach is: volume-break above 3317 on the right side can consider chasing long, and if it cannot hold, set a stop-loss. Another perspective: if 3278 breaks downward with volume, consider chasing short on the right side, but be sure to set a stop-loss.

If it retraces to 3206 and confirms support, you can add a long position. If it breaks below 3170, exit.

On the hourly chart: after Ethereum stabilizes above 3317, target the 3358 to 3381 range. Be cautious around 3381; you can open a short position, but if it breaks through 3416, set a stop-loss.

Another opportunity for a quick trade: go long at 3164, and stop-loss at 3129 if broken.

Resistance levels are 3317, 3358, 3381; support levels are 3276, 3228, 3187.

**4-Hour Chart Perspective**

If Ethereum breaks below 3279 on the 4-hour chart, the target drops to 3230 to 3173. Currently, Ethereum's trend is very steady, oscillating within a wedge pattern. Hope it continues to fluctuate within this wedge. If the wedge is broken, although the distance is far, the 3202 level will eventually be tested. To go higher, it must break through 3318; otherwise, it’s pointless.
BTC0,49%
ETH1,58%
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PretendingToReadDocsvip
· 01-17 19:22
98,000 has been topped again, feeling like this time it's really a bit uncertain... The M-heads are also coming out, and it's truly a bit hard to hold on.
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SorryRugPulledvip
· 01-17 13:56
Another M-head is coming. If this broken position can't hold, it will probably keep dropping all the way down.
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LootboxPhobiavip
· 01-16 04:57
Damn it broke support again, I told you not to chase highs, now I'm stuck waiting at 95761.
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MoonWaterDropletsvip
· 01-16 04:43
Once again, the market is so uncertain. Can 95761 really hold? It feels like it's about to break.
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tx_pending_forevervip
· 01-16 04:37
98000 is really becoming a mental barrier. After two consecutive failed attempts to break through, the obvious M pattern should have prompted an exit long ago. The wire mesh market is back again, which is the most torturous. Let's continue to wait and see 's reaction at 95761. Ethereum is still relatively obedient, but I'm worried that once the wedge pattern breaks, it will plunge chaotically again. Anyway, I no longer dare to be greedy.
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unrekt.ethvip
· 01-16 04:33
98,000 still hasn't been broken. This M pattern is indeed a bit hopeless; it feels like it's testing the support.
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