BTC Market Analysis
Bitcoin (BTC) has recently shown a significant weakening in upward momentum and is currently at a critical decision-making stage. Whether it will digest pressure during consolidation or experience a downward trend after prolonged sideways movement remains to be seen.
In the absence of significant positive news, Bitcoin faces considerable resistance for further upward movement. After all, from the bottom to the current high, the increase has reached $30,000 without experiencing a deep correction.
In terms of trading strategy:
• If Bitcoin breaks above 103149 with volume, and the hourly closing price stabilizes above 103149, a long position can be pursued on the right side to capture rebound profits, while setting a stop loss for the breakout.
• When the price drops below 102903 with volume, and the rebound cannot recover that price level, a short position can be pursued on the right side; if the price recovers, stop loss should be executed. During operation, closely monitor volume changes and set strict stop loss.
• If there is a false break below 101455 followed by a quick recovery, a small long position can be taken. Set the stop loss at the low of the false break or stop loss if it drops below 100600. If it cannot recover that price level, going long is not advisable.
From the hourly perspective, if Bitcoin can break above and stabilize at 103294, it is likely to test the range of 103737 - 104350 upwards; if it fails to break successfully, the price is likely to decline.
For short-selling strategies, when Bitcoin shows a 2b false breakout pattern at the upper level of 104010, a short position can be attempted. If the price breaks above and stabilizes at 104657, stop loss should be executed promptly.
Conservative investors can wait to go long when the price falls back to around 100710; if it breaks below the integer level of 100000, strict stop loss must be executed.
Resistance levels reference: 103345 - 103730 - 104358
Support levels reference: 102774 - 102065 - 101426
From the 4-hour perspective, if it breaks below 102353, the price may further drop to the range of 101469 - 100718. Currently, Bitcoin is in a volatile state with unclear direction, requiring continuous patience for observation.
ETH Market Analysis
Ethereum (ETH) trading strategy is as follows:
• When Ethereum breaks above 2596 with volume, a long position can be pursued on the right side; if the price falls below that level, stop loss should be executed promptly.
• If the volume drops below 2569, a short position can be pursued on the right side, while setting a stop loss.
• When the price retraces to 2495, if support can be confirmed as effective, a long position can be taken; if it breaks below 2455, stop loss should be executed.
On the hourly level, if Ethereum can stabilize above 2623, it is likely to rise to the range of 2656 - 2706; however, it currently seems challenging. When the price rises to around 2647, a short position can be attempted; if it breaks above 2686, stop loss should be executed.
Left-side trading orders can go long at the price level of 2408; if it breaks below 2365, stop loss should be executed.
Resistance levels reference: 2620 - 2655 - 2685
Support levels reference: 2558 - 2494 - 2455
From the 4-hour perspective, if it breaks below 2561, the correction phase will officially begin, and the price may drop to the range of 2493 - 2436. Investors need to patiently wait for a suitable entry opportunity.