The monthly chart shows that Bitcoin and Ethereum both closed with large bearish candles. Although the weekly chart for Bitcoin and Ethereum closed with bullish rebounds, they failed to break above the weekly resistance levels of Bitcoin 94000-94500 and Ethereum 3100-3170. The weekly support levels are Bitcoin 86000-84000 and Ethereum 2800-2750. If these levels are broken, there is a risk of continued downward movement!
On the daily chart, Bitcoin rebounded and tested the resistance level around 91500 before consolidating and falling back. Support is at 86500-84500. Ethereum rebounded and tested the resistance level around 3030 before consolidating and falling back, with support at 2830-2760. If the lower support holds, a new range will form for adjustment; if it breaks, the bearish trend will continue, and we need to observe step by step!
On the 4-hour chart, Bitcoin rebounded and tested the resistance level of 92500-93000 before consolidating at a high level, then it made a small pullback. Currently, support is at 86000-85000, and there is a high probability of testing the 82000 support level again if it breaks down. Short-term resistance is at 87500-88500. Ethereum is following a similar trend, testing the resistance level of 3070-3100 before falling back, with current support at 2800-2820. There is a high probability of testing the 2680-2700 support level again if it breaks down, with short-term resistance at 2860-2900!
Last week, the analysis indicated that Bitcoin and Ethereum had dropped to the expected bottom position, and the bearish trend temporarily paused. We began to position long for Bitcoin and Ethereum, and by Saturday, Bitcoin and Ethereum reached the bullish target of Bitcoin 93000 and Ethereum 3100. The subsequent analysis pointed out that since the market had reached the expected target, we needed to shift our strategy to short and look for a pullback. Today, the expected decline occurred, and the short positions for Bitcoin and Ethereum were once again accurately validated, as can be verified in the previous texts!
As the market begins to pull back, we will continue to treat it with a short strategy at high levels!
Trading Strategy:
Short Bitcoin at 87000-87500, target 86000-85000, stop loss above 88500;
Short Ethereum at 2870-2900, target 2800-2750, stop loss above 2950;
The strategy is time-sensitive, and specific guidance will be provided in real-time 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!
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
