Tuesday evening Bitcoin and Ethereum market analysis and trading suggestions
After the afternoon market retraced to around 104500 as expected, a rebound was observed. However, Lao Tian's intraday short position layout was accurately timed for entry. It is worth noting that the intraday rebound significantly lacks sustainability, and the bulls have not achieved notable results, while our high short strategy continues its winning streak.
Currently, the market sentiment is heavily cautious, primarily maintaining a volatile adjustment pattern throughout the day. The evening market will be influenced by the US stock market opening and Powell's subsequent speech, which may trigger fluctuations. However, Lao Tian predicts that his views will likely continue previous assertions, with no clear guidance on the timing and path of interest rate cuts, potentially resulting in a scenario of "loud thunder, but little rain." But friends must also strictly maintain defense, as the real market is oscillating around the 105000 line, and it cannot be ruled out that this is the calm before the storm.
From the four-hour chart, the price has repeatedly failed to break the upper boundary, indicating significant upward pressure. The price continues to oscillate around the 105000 line, with rapid fluctuations up and down but unable to break through key levels, resulting in unclear short-term direction. Technically, after a noticeable slowdown in upward momentum, downward pressure has suddenly increased. From the hourly chart, the Bollinger Bands are continuously tightening, with the short-term range further converging, again facing the question of whether it can maintain direction after breaking through key levels.
Trading suggestions:
In the short term, we will continue our high short strategy, primarily focusing on the support strength at 104500. If it effectively breaks down, we can continue to follow the trend down to the 103000 line. Resistance above is at 106000, and only a strong breakthrough at this level may open up upward space to 107000.
For Ethereum, look for a range of 2450-2480, with a focus on 2350.
After the afternoon market retraced to around 104500 as expected, a rebound was observed. However, Lao Tian's intraday short position layout was accurately timed for entry. It is worth noting that the intraday rebound significantly lacks sustainability, and the bulls have not achieved notable results, while our high short strategy continues its winning streak.
Currently, the market sentiment is heavily cautious, primarily maintaining a volatile adjustment pattern throughout the day. The evening market will be influenced by the US stock market opening and Powell's subsequent speech, which may trigger fluctuations. However, Lao Tian predicts that his views will likely continue previous assertions, with no clear guidance on the timing and path of interest rate cuts, potentially resulting in a scenario of "loud thunder, but little rain." But friends must also strictly maintain defense, as the real market is oscillating around the 105000 line, and it cannot be ruled out that this is the calm before the storm.
From the four-hour chart, the price has repeatedly failed to break the upper boundary, indicating significant upward pressure. The price continues to oscillate around the 105000 line, with rapid fluctuations up and down but unable to break through key levels, resulting in unclear short-term direction. Technically, after a noticeable slowdown in upward momentum, downward pressure has suddenly increased. From the hourly chart, the Bollinger Bands are continuously tightening, with the short-term range further converging, again facing the question of whether it can maintain direction after breaking through key levels.
Trading suggestions:
In the short term, we will continue our high short strategy, primarily focusing on the support strength at 104500. If it effectively breaks down, we can continue to follow the trend down to the 103000 line. Resistance above is at 106000, and only a strong breakthrough at this level may open up upward space to 107000.
For Ethereum, look for a range of 2450-2480, with a focus on 2350.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
106,123.8
+1.14%
ETH
2,435.5
+1.29%