On the daily level, Bitcoin tested the bottom around 92,000 twice before rebounding and closing with a bullish candle. It is currently testing the resistance at 99,000-100,000 but has faced pressure and retreated. The current resistance level is 98,000, and a breakout would look towards 99,000-100,000. Support is at 95,000-96,000. Ethereum also rebounded after testing the 3,200 level twice, and yesterday it tested the 3,500-3,550 range before facing pressure and retreating. The current resistance level is 3,420, with support at 3,350. Overall, the market is moving within a range, and the larger direction will depend on breaking out of the structure before following the trend.
On the 4-hour level, Bitcoin currently has resistance at 96,000 and support at 95,000. If it moves down, it will continue to operate within the range until it reaches the bottom at 92,000. If it moves up, the bulls will once again attempt to break through the 100,000 level. For Ethereum, the resistance is at 3,420 and support at 3,350, similarly operating within a range structure. A downward move would continue to break down to the bottom at 3,200, while an upward breakout would see the bulls attempt to reach the 3,500 level. Currently, it is near the support level, and it is recommended to focus on low long positions until a breakout occurs.
Trading strategy: Focus on low long positions! The high short positions set up in the early morning successfully took profit!
Long Bitcoin at 94,500-95,000, target 96,500-98,000, with a stop loss below 93,500;
Long Ethereum at 3,340-3,370, target 3,420-3,500, with a stop loss below 3,300;
The strategy is time-sensitive, and specific guidance will be provided privately in real-time!
Professional team gold medal analyst Ruo Yu focuses on contract trading guidance. Follow the WeChat public account "Coin Circle Ruo Yu" to understand real-time market analysis and trading strategies!
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