On the daily level, Bitcoin has continuously declined, breaking new lows near 80600, and then rebounding to close above 84000, which is similar to our previous expected bottom range of 83000-84000. After that, the market tested the support level of 84000 again and stabilized upward. Currently, the market is testing the upper resistance at 86500, and if it breaks, we look at 87500! Ethereum has also continuously declined, breaking new lows near 2620, and then rebounding to close above 2750, which aligns with our previous expected bottom around 2760. The market also conducted a second test of the support level at 2760 and then stabilized upward. Currently, the market is testing the upper resistance level of 2820-2850, and if it breaks, we look at 2950!
On the 4-hour level, Bitcoin is currently showing a steady upward trend, with upper resistance at 87000, and if it breaks, we look at 89000-93000, with support at 84000-82000. Ethereum is moving in sync, with upper resistance at 2850-2880, and if it breaks, we look at 2980-3030, with support at 2760-2680!
The previous analysis indicated that the current market is in a consolidation phase within a downward rhythm, and it feels like the market will rebound. After stopping losses on aggressive long positions, we also followed the trend to short, and subsequently, the market successfully moved down as expected, which is basically consistent with our previously anticipated bottom position. Continuous short positions have also yielded substantial profits. Currently, the bearish trend in the market should come to a temporary halt, and we suggest going long at lower levels!
Trading Strategy:
Go long on Bitcoin at 84500-85000, targeting 86500-87500, with a stop loss below 83500;
Go long on Ethereum at 2760-2790, targeting 2850-2950, with a stop loss below 2700;
The strategy is time-sensitive, and specific guidance should be based on real-time updates privately!
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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