Rebound resistance at 1191, decisively summer can 1183-1175-1171,
falling below 1170 continue to focus on 1165-1160.
Bitcoin and Ethereum Market Analysis and Trading Suggestions
Since the start of trading yesterday, we have repeatedly positioned ourselves mainly for Bitcoin and Ethereum, with numerous high spikes, resulting in considerable overall profit for those who followed the strategy.
Since the low point in the early morning, there was a rebound near 117000 – 4451 after a pullback, with Bitcoin rising by 2000 points and Ethereum rebounding by 200 points. However, during the decline, after breaking the position, it failed to effectively break through again, and the subsequent market will continue to face downward pressure.
From the K-line pattern perspective, the daily level shows that after a high spike, a large bearish candle has formed, indicating a high-level adjustment pattern. At the 4-hour level, the recent K-lines have spiked and then pulled back, still facing resistance after a rebound and are in a short-term consolidation phase. In terms of technical indicators, both the DIF and DEA averages at the 4-hour level are gradually declining, with green bars expanding, indicating a weakening of bullish momentum and an advantage for bears.
Trading suggestions: Short Bitcoin near 119000 - 119500, with a target around 117300;
Short Ethereum near 4630 - 4660, with a target around 4550.
Since the start of trading yesterday, we have repeatedly positioned ourselves mainly for Bitcoin and Ethereum, with numerous high spikes, resulting in considerable overall profit for those who followed the strategy.
Since the low point in the early morning, there was a rebound near 117000 – 4451 after a pullback, with Bitcoin rising by 2000 points and Ethereum rebounding by 200 points. However, during the decline, after breaking the position, it failed to effectively break through again, and the subsequent market will continue to face downward pressure.
From the K-line pattern perspective, the daily level shows that after a high spike, a large bearish candle has formed, indicating a high-level adjustment pattern. At the 4-hour level, the recent K-lines have spiked and then pulled back, still facing resistance after a rebound and are in a short-term consolidation phase. In terms of technical indicators, both the DIF and DEA averages at the 4-hour level are gradually declining, with green bars expanding, indicating a weakening of bullish momentum and an advantage for bears.
Trading suggestions: Short Bitcoin near 119000 - 119500, with a target around 117300;
Short Ethereum near 4630 - 4660, with a target around 4550.
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BTC
117,700.01
+0.69%
ETH
4,421
+0.84%