Coin Circle Li Ying: 6.1 Bitcoin Hammer Line Ignites Reversal! Ethereum Must Hold Above 2600 to Avoid Endless Downtrend!

Current Bitcoin price is 104,500, and Li Ying's short target is 103,000 for everyone to review. There's no need for extra words, let's see how to layout under the market's downward trend? Currently, the K-line is suppressed below MA7 and MA30 by the trend line. The market is showing preliminary signs of rebound, indicating bulls are trying to reverse the situation, but momentum has not yet fully released. Attention must still be paid to key support and resistance levels. Therefore, from Li Ying's perspective in the short term, the main force is attempting to rebound upwards. The hammer line and bullish engulfing pattern suggest possible reversal signals, while the MACD also shows signs of a golden cross, indicating that bullish strength is gradually increasing. However, due to the overall weakness in the market, the strength of the rebound may be limited, and there is a risk of encountering resistance and falling back. Li Ying suggests that aggressive coin friends can participate in short-term rebound opportunities with light positions, while conservative coin friends should wait for the price to break through MA30 and the red downward trend line resistance before considering entry.

Reference:

Long entry at 103,000, stop loss at 102,500, take profit at 105,500

Short entry at 105,500, stop loss at 106,000, take profit at 103,500

Ethereum

Before publishing, the current price of Ethereum is 2,535. Li Ying did not choose to go long at 2,500, but chose to wait for another bottom test. It is clear that the market is in a downward trend, especially after reaching the high point of 2,790, where the main force took profits. Currently, it is operating below both short-term and medium-term moving averages. Although there has been some rebound recently, the strength is weak and it still hasn't broken through the key moving average resistance. In the short term, bearish strength is weakening, so the rebound potential may be limited. In the medium term, the overall downtrend continues with a bearish arrangement. The rebound needs to break through key resistance levels such as MA30 to change the overall downtrend. Therefore, Li Ying suggests that coin friends who have already gone short can continue to hold and pay attention to whether the key resistance level of MA30 holds; for those who want to go long, it is advisable to wait for a golden cross of the moving averages or for the price to break through the 2,600 mark before considering building a position. Li Ying leans towards short-term trading, with quick entries and exits.

Short-term trading reference:

Long entry at 2,450, stop loss at 2,400, take profit at 2,550

Short entry at 2,600, stop loss at 2,650, take profit at 2,500

The above is a brief analysis of the current market situation by Li Ying, for investors' reference.