Currently, from the perspective of the weekly chart, both Bitcoin and Ethereum are showing a downward trend. The resistance level for Bitcoin is between 58500-59000, and for Ethereum it is between 2550-2600. On the daily chart, Bitcoin is still under pressure at the 58500-59000 level, with support at 57500-57000. The bears have made multiple attempts to break through the 58000 level and test the next support at 57000. Similarly, on the daily chart, Ethereum is also under pressure at the 2550-2520 level, with support at 2430-2400. This support level is crucial, and the continuation of the bearish trend will depend on the situation at this support level. If it is breached, the price may approach the 2000 mark. Looking at the 4-hour chart, both Bitcoin and Ethereum are in a rebound phase after testing the downside. It is advisable to trade cautiously and consider short-term operations. Wait for the trend to emerge before following the trend. It is expected that the rebound during the day session has also emerged, and there may be further opportunities for short positions in the future!

The strategy given early yesterday morning was to short Bitcoin at 58000-58500, with a target of 57000-56000, and to short Ethereum at 2470-2500, with a target of 2430-2380. Almost all the target levels were reached in the morning, and the short positions were closed with steady profits!

Trading strategy: Short on the rebound!

Short Bitcoin at 58500-59000, with a target of 57500-56500, and a stop loss above 59500;

Short Ethereum at 2520-2550, with a target of 2450-2400, and a stop loss above 2570;

The strategy is time-sensitive, and real-time guidance is the main focus!

Ruo Yu, a professional analyst from the gold medal team, focuses on contract trading guidance. Follow the WeChat public account "币圈若渝" to stay updated on real-time market analysis and trading strategies!

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