Market Review

As of now, the price of Bitcoin is $100,750, down 4% from the previous day. After breaking through the $100,000 mark, Bitcoin reached a high of $104,361 but has since pulled back. The current price has found temporary support at $101,000; if it falls below this level, it may drop below the psychological barrier of $100,000. The key resistance level above is $106,500; if it can break through this, it may push Bitcoin into a sustained upward trajectory.

Ethereum's price hovers around $2,640. On Monday, Ethereum's price retested and found support near its 200-day Exponential Moving Average (EMA) at approximately $2,436, subsequently rising 7.38% the next day. Currently, if the 200-day EMA at $2,436 can continue to hold as support, the upward momentum may continue, retesting the key psychological level of $3,000; if a pullback occurs, the area near the 200-day EMA will also serve as an important support level.

Technical Indicators

The Relative Strength Index (RSI) on the daily chart is at 78, above the overbought level of 70, indicating strong bullish momentum but also suggesting a higher likelihood of a pullback. However, there is also a possibility that the RSI could remain above the overbought level of 70 and continue its upward trend.

Trading Suggestions

For Bitcoin, it is recommended to short near $104,000 with a target of $103,000.

For Ethereum, it is recommended to short near $2,630 with a target of $2,580.

There are many types of investments, and it is important to choose what suits you best. There are many paths, and choosing the right guide is crucial. I am Gu Yue, interpreting world economic news, analyzing global investment trends, and providing daily market analysis to offer you the latest trading strategy ideas and professional investment consulting services to help you reach the peak of financial management.

This article represents personal views only and is for reference only, not to be used as a basis for actual operations. Market conditions are unpredictable, and profits and losses are at your own risk. For the latest trading strategies, follow the public account: Gu Yue KOL.

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