Wednesday Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions

The cryptocurrency market resembles a symphony of fate with ups and downs, with the intense price fluctuations constantly stirring the hearts of investors. Whenever the market plunges, panic sets in like a shadow, causing unease. But remember, the cyclical fluctuations of the market are normal; the short-term volatility is merely darkness before dawn, and the light will eventually come.

Looking back at last night's market, Bitcoin exhibited a downward trend, with prices gradually retreating from yesterday's high of $106,775 to a low of $105,200 by early morning; Ethereum also followed the overall trend, dropping from a high of $2,659 to a low of $2,577.

From a technical analysis perspective, on the four-hour chart, after a significant surge, the market closed with two consecutive bearish candles, showing a clear pattern of probing highs followed by a pullback. At this moment, the KDJ and RSI indicators' three lines are all turning downwards, signaling the exhaustion of bullish momentum and the gradual accumulation of bearish strength. Looking at the one-hour chart, the price is descending in a stepwise manner along the upper Bollinger Band, although bulls attempted to rebound along the way, they failed to reverse the overall downward trend. Meanwhile, the MACD indicator's fast and slow lines formed a death cross, with the green momentum bars below the zero line continuing to expand, further confirming the bearish-dominated market pattern. Based on the above analysis, it is expected that the morning market will continue the bearish trend.

Trading Suggestions:

- Bitcoin: It is recommended to place short orders in the range of $106,000 - $106,300, targeting a price level of $104,000 - $104,500.

- Ethereum: You can enter short near $2,630, with a target price of $2,550.

Risk Reminder: The cryptocurrency market is highly volatile, and the above strategies are for reference only. Investors must strictly set stop-loss orders, control their positions, and make rational decisions based on their risk tolerance, being cautious of the risks posed by sudden market fluctuations. #我的COS交易 #币安Alpha上新 #Strategy增持比特币 #FTX赔付 #特朗普媒体科技集团比特币财库