In the afternoon, the market continued the trend of rising and falling in the morning. The price rose to around 108,700 in the afternoon and then fell under pressure, reaching a minimum of around 107,500, and then triggered a fierce game between long and short positions at this key support level. Although Ethereum once increased its volume in the morning, the increase failed to be effectively consolidated. It stopped falling and rebounded after hitting the intraday low of 2454. It is currently maintaining a narrow range of box fluctuations around 2470. The market trend is highly consistent with the high-rise and fall trend we predicted before. The empty Dan that was previously deployed at Bitcoin 108,400 has successfully stopped profit near 107,400, and successfully gained a thousand points of profit. The current market situation is clear, and the rebound is an excellent opportunity to short.
Technical analysis shows that in the four-hour K-line chart of Bitcoin, although the price briefly broke through the upper rail suppression of boll in the morning, the continuous correction in the afternoon caused it to quickly fall back to the middle rail area. It is worth noting that the middle rail support level shows strong resilience. If the bulls want to launch an effective counterattack in the future, they need to effectively stand at the 108,000 mark. Switching to the one-hour chart, the price ratio shows a typical double-top structure. Although the two callbacks did not fall below the previous lows, and the K-line showed a short-term rebound signal, the overall rebound strength was limited, and the short-selling force still dominated. In view of the current low-level shock pattern of the market, it is recommended that subsequent operations continue to focus on high-altitude strategies.
Bitcoin can be deployed in the 108,000-108,500 range, with a target price of 106,500;
Ethereum can be shorted at highs in the 2490-2520 range, with a target price set at 2430.#MichaelSaylor暗示增持BTC $BTC