The US stock market is declining, and the price of coins is cautious about longs, and they are chasing rising prices! 1.17 Big Pancake Auntie's medium to long-term layout

Initial claims for unemployment benefits have seen a small increase, and the US stock market has also declined as expected, which is considered bearish for the crypto market. The short positions that were ambushed yesterday yielded over 50 points for Ethereum, while the long positions for Bitcoin made a strong move, but unfortunately ended with a stop loss. Long positions continued in the morning, and Ethereum was forcibly pulled near 3400. Currently, the market only sees Grayscale adding over 70 million dollars. No other bullish news has been seen.

From a technical perspective, the daily chart shows a long shadow bearish candlestick with a small upper wick. The Bollinger Bands are expanding, and the KDJ indicator has a bullish divergence with the three lines crossing upwards. The MACD indicator also has a bullish divergence with the two lines crossing upwards. Overall, the trend is dominated by long positions. However, the recent price has been oscillating widely between the upper and lower Bollinger Bands, so caution should be exercised against the strength of a bearish retracement!

Looking at the four-hour chart, the Bollinger Bands are contracting, and the currency price is running near the upper rail, indicating insufficient strength in long positions. The KDJ three lines are moving downwards, currently in a stuck state, with the risk of a death cross. The MACD two lines are diverging upwards, but the volume is severely shrinking. Everyone, be cautious and avoid chasing rising prices!

Looking at the overall US stock market, the stock market is down, but the coin price is going up. However, there is not much capital inflow into the spot ETF market. Therefore, Conan still prefers a bearish pullback during the day. In terms of operation, Conan believes that shorting at a high position will yield greater benefits, and there is an opportunity to layout medium to long term! Pay attention to the resistance levels at 102200, 102700, 103500, and 105000, and the support levels at 98500, 97500, 96500, and 96000.

1.17 Pancake Operation Strategy: Aggressive traders can enter short positions at 101,500-102,000, while conservative traders can enter at 102,500-103,000. Place a stop loss above 103,500 and target around 100,000-99,000-98,500. For medium to long term, the target is around 97,000-96,000-95,000.

Long Position Strategy: Try to enter long positions at 97500-98000 during the day, defend near 97000, and aim for 99000-100000. If broken, target around 101000.

1.17 Ether operation train of thought: Aggressive traders short at current price near 3400, conservative traders enter near 3450, defend near 3500, target around 3350-3300, medium to long term target around 3200-3100-3000

Long position idea: Enter long around 3200 for the first attempt during the day, with a defensive position of 40 points. The target is around 3250-3300, and if broken, hold for 3350.

Trump is about to take office, and it is still unknown whether he will sign favorable policies for the currency circle after taking office. However, according to the recent market, either it will directly pull up without looking back, not giving everyone a chance to get on board. Or it will take a deep plunge. I think there is a greater possibility of a deep downward plunge! So I am waiting in ambush to go short, constantly moving stop-loss to expand the space!