5.6 Bitcoin and Ethereum Trend Analysis and Trading Ideas!

CN
5 hours ago

Currently, from the daily chart perspective, Bitcoin has rebounded to around 97,000 but has encountered resistance and retreated. The support level at 93,000-92,000 is very critical; if the price breaks below this support, the market will likely enter a bearish trend again in the short term. Conversely, the resistance level at 97,000, if broken, will lead to a breakthrough of the 100,000 mark, potentially reaching new highs. Ethereum has rebounded to around 1,850 but is showing weakness in bullish momentum. If it cannot hold above the resistance level of 1,850, a bearish trend will emerge again, with short-term support at 1,750-1,700 and a breakdown target at 1,650-1,550.

On the 4-hour chart, Bitcoin has been consolidating at a high level after breaking upward, with bottom support around 92,000. A break below this level would lead to 90,000, while the resistance level is at 95,000-97,000. Ethereum is also consolidating, with a resistance level at 1,850 and support at 1,750; if it breaks below, one can follow the trend to enter a position.

Trading Strategy: Currently, we are at a low point in the consolidation range, so it is recommended to set up long positions at lower levels!

Long Bitcoin at 93,000-93,500, with a target of 94,500-95,500, and a stop loss below 92,000;

Long Ethereum at 1,740-1,760, with a target of 1,820-1,850, and a stop loss below 1,720;

The strategy is time-sensitive; please refer to the main page for details, and prioritize private real-time guidance!

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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