Evening Pancake Ethereum Technical Analysis

1. Market Overall Trend Assessment

From the 4-hour candlestick chart analysis, Bitcoin (BTC) price shows a clear downward channel characteristic, forming a standard descending wedge pattern. During the price fluctuation process, the highs and lows continually move down in sync, forming a clear trend resistance line and support line. Although there are signs of an oversold rebound, the MACD indicator shows that the current bearish momentum is waning, but the double lines remain below the zero axis, and the histogram has not shown a significant reversal, indicating insufficient market rebound momentum, with the downward trend still dominating. Additionally, a typical bearish engulfing pattern has appeared in the candlestick combination, further confirming the strengthening of short-term bearish forces.

2. Key Technical Level Analysis

1. Bitcoin (BTC): The strong support level to focus on below is the key support level at the psychological level of $100,600; this is the key defense line in the bull-bear contest. The resistance zone above is located at $108,100-$108,300, which is composed of previous highs and a downward trend line creating double pressure.

2. Ethereum (ETH): The support level is concentrated around $2,410, which resonates with the short-term moving average system; the resistance zone above is $2,450-$2,470, including recent oscillation highs and Fibonacci retracement levels.

3. Trading Strategy Suggestions

1. Bitcoin (BTC) Trading Strategy:

- Long Position: It is recommended to buy on dips in the range of $107,000-$107,300, with a target price set at $108,300 for the first take profit level, and if it breaks through, look for $108,800; the stop-loss is set below $106,500.

- Short Position: If the price touches the resistance zone of $108,100-$108,300, a light short position can be initiated, targeting below $104,600; the stop-loss is set above $108,800.

2. Ethereum (ETH) Trading Strategy:

- Long Position: Enter around $2,420, with a target price of $2,470 for the first take profit level, and if it breaks through, look for $2,480; the stop-loss is set below $2,400.

- Short Position: When the price touches the resistance zone of $2,450-$2,470, attempt to initiate a short position, targeting $2,355-$2,365; the stop-loss is set above $2,480.

4. Risk Warning

The current market is at the end of a triangular consolidation, and the breakout direction is not yet clear. Investors need to closely monitor the effectiveness of key support and resistance levels, strictly implement stop-loss strategies, and guard against the risk of sudden trend reversals. #币安Alpha上新 $BTC