On the daily level, Bitcoin has not changed significantly. Although it shows a steady upward trend, it faced resistance and fell back after testing the resistance level around 94,000. The resistance level remains effective; as mentioned earlier, if it breaks through, it could rise to the 100,000 mark. Otherwise, it will continue to operate within the range. The short-term support is at 89,000, and if it breaks, it will return to the bottom of the range at 84,000. Ethereum, on the other hand, has shown a breakout trend. After breaking through the 3,230 level, it encountered resistance at 3,420 and fell back. If it breaks, it could rise to 3,600, with support at 3,170-3,230. Overall, it is not in sync with Bitcoin. As mentioned yesterday, there may be a subsequent rise in Bitcoin or a drop in Ethereum!
On the 4-hour level, Bitcoin tested the top of the range structure at around 94,000 and then faced resistance and fell back, returning to the short-term support at 89,000. Although Ethereum has broken through the top of the range, it fell back after testing the resistance at 3,450. If it breaks, it could rise to 3,630. Currently, the short-term resistance has returned to the 3,230 level, with support at 3,170-3,120!
The long positions set up yesterday for both Bitcoin and Ethereum have reached their target for profit-taking. The market is now starting to correct, and it is recommended to continue shorting on rebounds!
Trading Strategy:
Short Bitcoin at 91,000-91,500, with a target of 90,000-89,000, and a stop loss above 92,500;
Short Ethereum at 3,230-3,260, with a target of 3,150-3,100, and a stop loss above 3,300;
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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