Tuesday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions
This morning, looking at the market, it's quite exciting; Bitcoin has dipped 3000 points. Fortunately, I exited overnight, finishing the real trading earlier. This morning, I followed the trend and took a short position on Bitcoin at 110196, exiting around 108860, gaining over 1300 points; for Ethereum, I shorted at 4387 and exited at 4351, taking a profit of 36 points. When trading contracts, be flexible; don’t always stick to one direction stubbornly. When the market changes, your mindset should adapt as well.
Currently, from the daily chart perspective, the short-term trend is stabilizing downward, with a large bearish candle forming, and the one-way rhythm is still ongoing, with no end to the pullback. After a sideways consolidation at the four-hour level, it has broken down through the lower boundary, and the moving averages are all diverging downwards. The price is currently consolidating around 110000, with no obvious signs of a rebound; the short-term trend is still dominated by bears, and all indicators support the bearish outlook. The key focus is on the support level at 108500; if it doesn’t break further, we can consider entering a long position at this level. In terms of operations, just follow the trend and look for lower entries.
Trading Suggestions:
Short Bitcoin in the 110300-110800 range, targeting 108000;
Short Ethereum in the 4465-4485 range, targeting 4350.
Set a stop loss above 112000 for Bitcoin, and above 4490 for Ethereum
