Good morning everyone, I am Gu Yue. Last night, our short position finally achieved great success this morning, recovering what we lost yesterday morning. Bitcoin dropped nearly 3,000 points from above $86,000 to below $84,000, while Ethereum fell from $1,660 to around $1,580, with a profit margin of nearly four times. Currently, Bitcoin is stabilizing around $83,800, and Ethereum is stabilizing at $1,580. Based on the current trend, the market may further decline. This morning, pay attention to the support level of $83,000 for Bitcoin and $1,560 for Ethereum. There is no need to rush into long positions unless we are near the support level.

Technical Analysis

Currently, the Bollinger Bands are gradually opening, and the K-line is running around the lower track of the Bollinger Bands. The MACD green energy bar is gradually increasing, and there is still no signal of stopping the decline. The market may further test downward, so although we can take profits from our short positions, there is no need to rush into long positions at this moment. We need to observe the market trend further. If it approaches the support level, we can then enter long positions more boldly.

Trading Suggestions

For Bitcoin, it is recommended to go long around $83,300-$83,500 with a target of $85,000.

For Ethereum, it is recommended to go long around $1,550-$1,570 with a target of $1,650.

There are many types of investments, and it is important to choose what is suitable for 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 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 only represents personal views and is for reference only. It should not be considered a basis for actual operations. Market changes are unpredictable, and profits and losses are at your own risk. #比特币