Liying Chat Currency: Latest Market Analysis of 11.6 Bitcoin (BTC) and Ethereum (ETH)

　　Family! The current price of Bitcoin is 76200, truly unexpected. One moment it seemed to be reaching a new high, and the next moment, a large bearish candle brought the bulls to ruins, currently hovering around 75650. To be honest, today's market is very torturous; during the early session, seeing the momentum above 82000 made me think there would be a major counterattack, but now it has plunged directly, breaking through the support at 75000. This market is typical of the bull market's large crashes, which looks scary but also indicates intense market washing. The current price action is wholly exhibiting a pattern of a high followed by a drop. For us, chasing the long side poses too much risk right now, but blindly shorting is also not advisable. The safest approach is to wait and see if this drop can stabilize at a key position, and only enter the market upon receiving a clear stabilization signal. In short, preserving capital is the priority; do not catch falling knives during a steep drop.

　　Short Along with the Trend

　　Entry: Resistance at 76500-77000 during rebound, stop-loss: 77500, take profit: 75000 targeting 74000

　　Support Buy, Entry: Stabilization at 74800-75000, stop-loss: below 74500 immediately exit, take profit: 76500

　　Ethereum

　　Family, the current price of Ethereum is 2260, everyone thought it was about to take off, but a large bearish candle directly smashed it back to 2245, catching the bulls off guard. This is a classic example of the door painting market, where the main force throws chips to those chasing the high at the upper level and then quickly crashes the price. What we dread most in trading is this kind of rapid rise and fall. The current position at 2245 is crucial, just at the upper edge of the previous fluctuation platform. The short-term upward power of the moving average has declined, and the bears are beginning to take the initiative. The MACD indicator has formed a death cross, and the K-line has pierced the upper Bollinger Band and quickly retraced to above the middle band at 2365. This kind of piercing trend indicates a correction of overbought sentiment, but the line at 2365 will constitute extremely strong downward resistance. Overall, the indicator system is signaling risk, and the probability of a short-term test of support is extremely high.

　　Bullish Strategy: Wait for a pullback to stabilize at 2200-2215 to take a light long position, stop-loss below 2170

　　Bearish Strategy: Current price 2245 light short position, or short upon rebound to around 2365-2380, stop-loss 2410, target 2250-2220

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