Thursday Morning Trading Strategy
Affected by the U.S. stock market opening and the disappointing ADP employment report, BTC rose over 5000 points overnight, reaching the 109000 mark, approaching the Fibonacci 1.618 strong resistance zone (108800-110200).
Technical Analysis: 4-hour volume-price divergence, RSI 89 overbought, MACD momentum weakening; a large influx of BTC into exchanges above 110000, funding rate at 0.15%, short selling pressure increasing significantly.
Key Levels: Resistance at 109500, if not broken, will test 105800; if it breaks below, it confirms a head and shoulders top, with a target of 102300-101500.
Trading Suggestions:
BTC: Short near 108900, target 105800, stop loss 110200
ETH: Short near 2570, target 2450, stop loss 2650
It's better to enjoy together than alone; you need to reach out to pull yourself ashore~
