Good evening, I am Gu Yue. After a significant drop in the market yesterday, the market is gradually rebounding, but the strength is weak. Currently, the price of Bitcoin has rebounded to $104,800, and Ethereum has rebounded to $2,530. From the current trend, the rebound strength is weak and unable to continue upward. The Bollinger Bands are gradually narrowing, and the market is moving towards consolidation. The middle band of the Bollinger Bands on the four-hour chart has formed a strong resistance position above, making it difficult to continue upward in the short term due to insufficient strength.

Technical Analysis

From the current trend structure, the candlestick chart shows a wedge-shaped downward structure. The hourly level is currently under pressure from above and is gradually moving downward. The MACD red energy bars are gradually decreasing, and the trend is shifting from bullish to bearish. Pay attention to Bitcoin at $103,500 below. For Ethereum, watch $2,480. The market trend this evening is expected to first drop and then rise. In terms of trading, it is recommended to short in the short term and wait to go long at lower levels.

Trading Suggestions

For Bitcoin, it is recommended to short in the range of $104,800-$105,000 with a target of $103,500-$103,800.

For Ethereum, it is recommended to short in the range of $2,530-$2,550 with a target of $2,480-$2,450.

There are many types of investments, and it is important to choose what suits you. There are many paths, and it is crucial to choose the right guide. I am Gu Yue, interpreting world economic news, analyzing global investment trends, and providing daily market trend 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 only represents personal views and is for reference only. It should not be used as a basis for actual operations. Market changes are unpredictable, and profits and losses are at your own risk. For the latest trading strategies, follow the public account: Gu Yue KOL.

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