There is no permanent bear market in the cryptocurrency world, only souls shaken out of the market. Hold on to valuable assets, maintain cash flow, and time will reward those who understand cycles and stay true to their principles as genuine investors. The bull market will eventually return, but you must ensure that you are still at the table. The market is never short of opportunities; it lacks you who are prepared. Bitcoin exhibited a volatile downward trend during the day, after narrow consolidation in the 118500-119200 range in the afternoon, it failed to hold the crucial level of 119000 in the evening and quickly dropped to a low of 116750. Ethereum also weakened simultaneously, accelerating its decline by 280 points to a low of 4392 after losing the 4600 level. The bearish trend given by Yunlu during the day also unfolded as expected, providing students with one long and two shorts to capture 3130 points in Bitcoin, and one long and two shorts in Ethereum to capture 231 points.
The technical indicators show that the bears hold the advantage, with a MACD death cross on the 4-hour chart pointing downwards, and the RSI around 40 not yet oversold. Short-term focus is on the 116750 support; if it fails, it may further test the 115000-113800 area. The 118500-119200 range above forms a resistance zone. Ethereum's 4-hour MACD shows strong bearish momentum, with RSI approaching the oversold zone. Key support below is seen at 4350-4300, while resistance during a rebound is focused on the 4500-4600 range. The current market shows a clear bearish trend, and one should be alert to potential oversold rebound opportunities at key support levels. Strictly set stop-loss orders, with Bitcoin long positions referencing a stop-loss below 116500, and Ethereum long positions referencing a stop-loss below 4350. Market volatility is increasing; light position trading is recommended to control risks.
It is recommended to mainly take short positions during rebounds. For Bitcoin, pay attention to short opportunities at the 118500-119200 resistance zone; for Ethereum, you can set up short positions in the 4500-4600 range.
