Market Analysis on Jan. 9, 2019

Recently, the ETH hard bifurcation event in Constantinople on January 16 has attracted the most attention in the currency circle. The ETH hard bifurcation is actually a major technological upgrade of ETH, namely ETH 2.0. After the hard part, ETH will have a comprehensive optimization and upgrading. It can be predicted that the hard bifurcation will be boosted if the results of this hard bifurcation are applied to the more depressed digital currencies. Prior to January 16, the trend of the market is not expected to have major fluctuations.

BTC/USDT

(4-hour chart)

(30-minute chart)
Yesterday's 30-minute chart broke through the upward pressure line, touching the upper edge of the 4-hour channel and then the pressure fell. In fact, there is no substantial change in the trend, but it is still running in the channel. Today, the top is still concerned about whether the upper edge of the channel can break through effectively. On the 30-minute chart, we can see that after December 28, the market runs in the Yellow upstream channel. Yesterday, it runs close to the upper edge of the channel. After 4 hours of downstream channel pressure, it falls down. In the short term, it may still run in this channel. The lower part supports the lower part of the channel for 30 minutes, the upper part of the channel for 4 hours above 3800 3560, and the upper part of the channel for 4200.

ETH/USDT

(4-hour chart)

(30-minute chart)
Yesterday ETH did not change much, and it still shook in small intervals. From the 30-minute chart, we can see that the market is running in the downlink channel formed after January 5, and it is estimated that the market will continue to oscillate in this channel in the near future. Today, focus on the support of the lower edge of the 30-minute channel (i.e. the 60-day average position in the 4-hour chart) and the upper edge of the 30-minute channel. If the 30-minute downlink channel is effectively broken through, the upward trend line in the 4-hour chart may be tested downward. Upper Pressure 151 158
Underneath support 145 140

EOS/USDT

(4-hour chart)

(30-minute chart)
EOS did not change substantially yesterday, but still oscillated in a narrow range. Thirty minutes formed a downlink channel yesterday. We are concerned about the change of this channel. If the upper channel effectively breaks through the upper edge of the channel, the double-top shape formed on January 6 may be tested again. If the lower edge of the broken channel is below, the upward trend line in the 4-hour chart may be tested. Before making substantial breakthroughs, warehouses can be built up and down the corridor. Upper pressure 2.82 2.85 lower support 2.67 2.60

The above is for reference only.