Good afternoon everyone, I am Gu Yue. This morning, Bitcoin rose to $108,900, and Ethereum rose to $2,680 before falling again. Currently, the price of Ethereum is $2,560, and the price of Bitcoin is $106,000. The market has reversed quickly, shifting from bullish to bearish, with strong resistance above making it difficult to continue breaking upward, leading to a decline.

Technical Analysis:

From the hourly chart, K is currently operating between the middle and lower bands of the Bollinger Bands. The Bollinger Bands are opening downward, the MACD green energy bars are continuously increasing, and the KDJ has formed a death cross, indicating that the market will further decline. Bitcoin's support to watch is at $104,000, while Ethereum's support to watch is at $2,480.

From the four-hour chart, both Bitcoin and Ethereum have reached the middle band support of the Bollinger Bands and are currently on the verge of a downward breakout. The market could break out at any time. The long position suggestions given to you this morning should be stopped out to avoid greater losses. In the evening, focus on the direction and trade in the bearish direction to recover losses.

There are many types of investments, and it is important to choose the one that suits you. There are many paths, and it is crucial to choose the right guide. I am Gu Yue, interpreting world economic news, analyzing global investment trends, providing daily market trend analysis, and offering 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. The market is volatile, and profits and losses are self-responsible. For the latest trading strategies, follow the public account: Gu Yue KOL.

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