On the daily level, although Bitcoin has continued to decline and broke new lows to around 88,500, it still managed to close above 91,500 after a rebound. It then tested the resistance around 93,000 before pulling back, showing some signs of a double bottom. Currently, the probability of breaking new lows again is low, and it is expected to consolidate in the range of 91,000-93,000! Ethereum also continued its bearish trend, breaking new lows to around 2,870, but it has failed to break below the 3,000 level after three consecutive tests. After a rebound and testing the upper resistance at 3,120-3,170, it encountered resistance and pulled back. This can also be seen as a short-term resistance level, while support is still temporarily referenced at 3,000, with a breakdown reference at the lower level of 2,900-2,850!
On the 4-hour level, Bitcoin's current trend is still as mentioned earlier, basically showing a downward consolidation followed by a potential breakdown, continuing the bearish rhythm. The current consolidation range is still referenced at 89,000-92,000-94,000, while Ethereum's current consolidation range is referenced at 2,900-3,050-3,150!
Yesterday's analysis indicated that the current market is in a consolidation phase within a downward rhythm, so we continued to position high-level short orders, which successfully led to the expected decline, and all the continuously positioned short orders have yielded substantial profits. Today, I feel that the market will have some rebound, so I will position aggressive long orders!
Operational Ideas:
Long Bitcoin at 91,300-91,800, target 93,000-94,000, with a stop loss below 90,000;
Long Ethereum at 2,990-3,020, target 3,100-3,150, with a stop loss below 2,950;
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 operational ideas!
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