Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
Market Observation on January 17: $BTC and $ETH Afternoon Trend Analysis
The current market is fluctuating between key levels, with no clear direction. From technical indicators, the BOLL bands are narrowing, indicating decreased volatility, and the price is hugging the midline, suggesting a temporary balance between bulls and bears. However, there is a concern beneath this—long-term moving averages are still in a bearish alignment, indicating a weak trend. Although short-term prices have broken above short-term moving averages, a sustained upward trend has not yet formed, which feels somewhat contradictory.
Therefore, in terms of strategy, watch for resistance around 95536.9, which may exert some pressure. Coupled with the BOLL bands contracting in this low-volatility environment, a suitable approach is to sell near resistance levels and gradually build positions on dips during rebounds.
**Afternoon Recommendations:**
- Consider reducing holdings of $BTC in the 95500-96000 range, with support levels at 95000-94500
- For $ETH, consider selling in batches at 3300-3320, with support at 3260-3230
In this range-bound market, buying low and selling high remains the key.