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[Bitop Review] Cryptocurrency Analysis Today: BTC, ETH, SOL

2025年01月23日发布

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BTC is currently within an ascending channel (purple parallel channel). After an unsuccessful attempt to break above $110,000 on the 20th, the price quickly retracted to $102,250 as of writing, with a 24-hour decline of 1.47%. Within the channel, a descending wedge pattern (indicated by two yellow lines) can be observed, with the price breaking upwards between the 17th and 20th, which is generally considered a bullish signal. The recent price pullback can be seen as a reasonable retracement and also an entry opportunity.


For those interested in trading this cryptocurrency, you might consider entering between the Fibonacci levels 0.382 to 0.5, around $97,000 to $99,300. Place your stop loss at $96,000 to $96,400, roughly 3-4% below. Take profit levels can be set at the previous high of $110,000 or at Fibonacci 1.5, around $119,500.

Here are some key levels to watch:

Entry: $97,000 - $99,300

Take Profit: $110,000 / $119,500

Stop Loss: $96,000 - $96,400


ETH


1737608964089002541.png


ETH has shown a weak trend recently, declining since reaching $4,100 on December 16th, with new lows established each time. On the 13th, it hit a new low of $2,900 before a rapid recovery, clearly breaking below the $3,000 support level. The pattern has shifted from a descending triangle to a potential descending wedge, though there are no clear signs of a trend reversal yet, so further market observation is necessary.

For those considering an entry into ETH, it might be wise to watch the price reactions around $3,000 - $3,070 or $2,900 to decide on establishing long positions.


SOL


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Following the Trump couple's token launch on Solana, there was a surge in on-chain transaction volume, which propelled SOL's price up by an impressive 35% within two days. As of writing, the price has slightly declined to $250, with a 24-hour drop of 3.2%.

The recent volume-driven rise broke through the previous downtrend line, with the retracement level at Fibonacci 0.5 around $230. If there's another successful breakout, we might see the price rise to Fibonacci levels 1.414 to 1.5, roughly $350 - $360. Currently, after retracing to 0.5, there hasn't been significant upward momentum, suggesting the retracement might not be over. Watch if the price dips to Fibonacci 0.382 at about $216, which is also a dense trading zone between $215 - $220. Consider entering long positions at this level, with a stop loss at $209 (about 5%) and take profit set between Fibonacci 1.13 to 1.272, around $310 - $330.

Here are some key levels to consider:

Entry: $220

Take Profit: $310 - $330

Stop Loss: $209

 

 

 

Disclaimer: None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.