Tuesday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions
Starting from this week, Lao Tian has repeatedly emphasized the strategy of taking high short positions. Every rebound is an opportunity for us to enter short positions. We firmly adhere to this strategy and have not been shaken out by the temporary rebound and adjustment. The recent market rhythm is also quite clear—during the day, there are rebounds for repairs, and then it falls again in the evening to early morning, forming a cyclical pattern. Early this morning, Bitcoin reached a high of 112897 before being pressured down, with a minimum drop to 108559, creating a new recent low. We firmly hold the short position we established near 110196 in the morning, which successfully reached the target of 108860, achieving a profit of 1330 points. Ethereum entered short positions near 4410 in the morning, also successfully gaining 35 points.
Currently, from the market perspective, Bitcoin has experienced three consecutive bearish candles on the daily chart, with prices running below the middle band. Overall bullish sentiment is clearly low, and market dominance is returning to bears, indicating that we are likely entering a new adjustment cycle. After several days of intense long-short battles, the market ultimately chose to break downwards, and the daily bearish trend continues. In the short term, a weak pattern has been established, making it difficult to reverse the weakness. Even if a technical rebound occurs, it is unlikely to change the overall downward rhythm. Therefore, in terms of operations, it is suggested to continue maintaining the main idea of entering shorts on rebounds, acting in accordance with the trend, and patiently waiting for the market to adjust further downwards.
Trading Suggestions:
Bitcoin range 110500-111000, look for 108000
Ethereum range 4430-4450, look for 4300
Bitcoin resistance above 111000, Ethereum resistance above 4450
