After Bitcoin surged to the line of 66976 yesterday, it fell back to around 65300, perfectly connecting with the short position around 66800 from yesterday. Ethereum surged to the line of 1839 yesterday before starting to fall back to around 1760. The short positions around 1820–1850 from the article have also achieved decent profit margins. Friends who entered the market according to yesterday's strategy are advised to take profits in batches after reaching the target. Secure profits in time, do not be too greedy; preserving profits in this market is more important than anything else! Today's strategy remains the same, aiming for shorts!
On the daily chart, Bitcoin's moving averages are in a bearish arrangement. The recent rebound only touched the 21-day moving average before falling back again. It is difficult to break upwards without substantial positive news. The MACD fast and slow lines on the four-hour chart have formed a death cross and are diverging downwards, with red energy bars continuing to increase. The bearish strength is constantly enhancing. In simpler terms: bears currently have the upper hand; bulls need to step up to turn the tide. The price is hovering near the middle band of the Bollinger Bands, and the area around 65500 is providing some support. If this level is effectively broken, new downward space will be opened. For specific operations, it is recommended to refer to the resistance levels below to enter short positions!
For Bitcoin, resistance is at around 66900–67400–68500, and support to watch is at around 65500–64500–63200–62222. For Ethereum, resistance is at around 1830–1908, and support to watch is at around 1750–1680–1640–1580.
Regarding
The above views are for reference only. Remember to manage risk, participate with light positions, and note that there may be deviation in entry and exit points: Bitcoin ±100 points, Ethereum ±5 points.
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