In today's early session, Bitcoin (大饼) and Ethereum (二饼) surged before quickly retracing. Bitcoin hit a low of 110834, while Ethereum reached a low of 2783. The 4-hour candlestick chart shows that the rebound was halted due to profit-taking, and currently, it is stabilizing at a key support level, overall aligning with bearish expectations.
Incremental funds are weak, and the existing market dynamics make it difficult for the rebound to sustain, coupled with technical pressure. The resistance zones are $BTC 111300-111600 and $ETH 2800-2820, with previous platform pressure, signaling weakness as the market failed to rise when it should have in the early session.
For Bitcoin, consider light short positions around 111300-111600, with a short-term target of 110000. If it breaks below, watch for 107000; for Ethereum, consider short positions around 2800-2820, with a short-term target of 2700 and a long-term target of 2450. Strict stop-loss is advised, with BTC stop-loss above 112000 and ETH stop-loss above 2830.
The market is continuously changing, and we are closely monitoring it to seize new entry opportunities. Like and comment to navigate through the bull market together and seize this major opportunity.
