Good morning everyone, I am Gu Yue. Last night, our short position finally achieved great success this morning, and we have also recovered what we lost yesterday morning. Bitcoin dropped nearly 3,000 points from above $86,000 to below $84,000, while Ethereum fell from $1,660 to around $1,580, with a profit margin of nearly four times. Currently, Bitcoin has stabilized around $83,800, and Ethereum has stabilized at $1,580. In terms of the current trend, the market may further test lower levels. This morning, we should pay attention to the support at $83,000 for Bitcoin and $1,560 for Ethereum. There is no need to rush into long positions until we reach the support levels.
Technical Analysis
Currently, the Bollinger Bands are gradually opening, and the K-line is running around the lower Bollinger Band. The MACD green energy bars are gradually increasing, and there is still no signal to stop the decline. The market may further test downward, so while we can take profits on our short positions, there is no rush to enter long positions at the moment. We need to further observe the market trend, and if it approaches the support levels, we can then enter long positions more boldly.
Trading Suggestions
For Bitcoin, it is recommended to go long around $83,300-$83,500 with a target of $85,000.
For Ethereum, it is recommended to go long around $1,550-$1,570 with a target of $1,650.
There are many types of investments, and it is important to choose what suits you best. There are many paths, and choosing the right guide is crucial. I am Gu Yue, interpreting world economic news, analyzing global investment trends, and providing daily market analysis to offer you the latest trading strategy ideas and professional investment consulting services to help you reach the peak of financial management.
This article represents personal views only and is for reference only. It should not be used as a basis for actual operations. Market conditions are unpredictable, and profits and losses are self-responsible. For the latest trading strategies, please follow the public account: Gu Yue KOL.
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