Currently, from the daily chart perspective, Bitcoin has risen continuously to the resistance level around 110,500. It has only tested this level once; if it breaks through, the next resistance level to look at is around 112,500. Support is again at 108,000-106,000. Ethereum has also risen continuously to the resistance level around 4,080, but it has not yet tested this level. If it breaks through, the next resistance levels to watch are 4,150-4,270, with support at 4,000-3,900.
From the 4-hour chart perspective, Bitcoin has rebounded to the resistance level around 110,500, which is also the bottom position of the previous market. If it breaks down, it will convert to a resistance level. If it continues to rise, look for levels between 113,000-116,000, with support at 108,000-106,000. Ethereum is slightly different in that it has not broken below the bottom position of the previous market. The resistance above is at 4,080-4,120, and if it continues to rise, look for levels between 4,200-4,270, with support at 4,000-3,900-3,750.
The current market for Bitcoin has reached the previous top-bottom conversion point, and one can attempt to short based on the resistance level!
Short-term trading strategy:
Short Bitcoin at the current price of 110,400-110,900, targeting 109,000-108,000, with a stop loss above 112,000;
Short Ethereum at the current price of 4,050-4,080, targeting 3,980-3,900, with a stop loss above 4,130;
The strategy is time-sensitive; please refer to the main page for details, with private real-time guidance as the primary focus!
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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