The four-hour chart of Bitcoin has consecutively closed three bearish candles, with the MACD indicator forming a death cross below the zero line, and the RSI value of 42 also indicates a weak market. Currently, the key support area is between 105000 and 105500, while the resistance above has shifted down to around 107300 and 108000. Short-term support for Ethereum is in the range of 2530 to 2550, with resistance adjusted down to around 2580 and the previous high point of 2616.
Market data shows that large funds are continuously flowing out, and the number of liquidated long positions in the contract market has significantly increased, while the inflow of coins into exchanges has risen, indicating that many people have started selling their coins and exiting the market. The overall market is now in a weak downward state.
It is particularly important to pay attention to whether Bitcoin can hold the key psychological support levels of 105000 and Ethereum at 2500. Tonight, the U.S. will release unemployment claims data, which may cause market fluctuations. It is recommended to manage positions carefully and set stop-loss orders. If the key support levels are effectively broken, the market may continue to adjust downward.
Trading Suggestions
For Bitcoin, go long around 105000-104500 with a target of 106500-107500.
For Ethereum, go long around 2520-2490 with a target of 2570-2600.
