At midnight, the market saw a slight rebound for Bitcoin, followed by another wave of bottoming recovery. Bitcoin hit a low of around 69,700, and is currently trading around 70,400. Ethereum hit a low of around 2,502 and is currently trading around 2,525.
According to the short-term trend structure, Bitcoin's short-term rebound is limited, generally leaning weak, while the upper pressure is clearly evident. Even with the rebound at midnight, it is still under pressure and has not achieved significant breakthroughs. Ethereum is under pressure due to the resistance area at high levels, indicating that there are still expectations for adjustments in the short-term future. For today, we first consider the pressure drop situation after the midnight rebound is limited, and secondly, the failed continuation of the upward rebound. After today's halt in increase, there is a chance for another drop, so we will approach this from two aspects: if the pressure area cannot be effectively broken, we look for a pullback on the high side, and for the low support line, we aim for a low buy to catch rebounds, maintaining a back-and-forth approach within the range. If there is a break below, we will make adjustments.
Operational Suggestions
On Friday, Bitcoin can be bought around 70,000 with a target of 71,000-71,500.
Ethereum can be bought around 2,500-2,510 with a target of 2,600.
