On the daily level, while Bitcoin shows a steady upward trend, it faced resistance and retreated after testing the resistance level around 94,000 again. The resistance level remains effective; as mentioned before, if it breaks, it could rise to the 100,000 mark; otherwise, it will continue to operate within the range. Ethereum has broken the upward trend, with the entity breaking the resistance level at 3,230. The current resistance level is 3,400, and if it breaks, we will look at 3,600. The support has shifted to 3,230, which is overall different from Bitcoin's movement. In the future, Bitcoin may catch up or Ethereum may drop back!
On the 4-hour level, Bitcoin tested the top of the range structure at 94,000 and then encountered resistance and retreated. Overall, it has not broken out. Ethereum has broken the top of the range, with short-term resistance above at 3,380-3,450. If it breaks, we will look at 3,630, with support at 3,300-3,230!
The basis for yesterday's short position was that Ethereum had not fallen to the bottom of the range, and the stop-loss was exited later. However, as mentioned before, if the range is broken, we should follow the trend and enter long positions. The current market contradiction is that Bitcoin has not broken, while Ethereum has, and they are not maintaining a synchronized trend. It is recommended to view the layout of long positions based on the breakout!
Trading Ideas:
Long Bitcoin at 91,500-92,000, with a target of 93,000-94,500, and a stop-loss below 90,500;
Long Ethereum at 3,250-3,280, with a target of 3,350-3,450, and a stop-loss below 3,200;
The strategy is time-sensitive, and specific guidance should be based on real-time private advice!
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 ideas!
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