Every valuable and meaningful thing requires effort. This is also true in financial markets. Stability is measured by being able to survive despite difficulties. When we look at today's transaction data, we see that the market's recent volatility has slowed down a bit. As fluctuations continue to shape the market, we will discuss how strategic steps should be taken for BTC and ETH.
Daily Performance of BTC and ETH
Bitcoin (BTC) opened at 56,000 today and tested resistance levels throughout the day. It could not overcome the 57,000 resistance in the morning hours and retreated to the 57,200 resistance in the afternoon. In the evening hours, it saw resistance at 57,700 and then fell to the lowest support level of 55,600. Throughout the day, three long and one short positions were taken in BTC, recording a total decrease of 3,327 points.
For Ethereum (ETH), short positions were taken at 2,420-2,450 levels, while the target was set around 2,320. The general movements of the market target both long and short positions, putting investors in a difficult selection process.
Technical Analysis and Strategies
On the daily charts, the overall market trend looks mixed. While the market is volatile, analysts note that the Bollinger Bands on the four-hour charts are still moving downward. The KDJ indicator is also showing a “death cross,” which suggests that the market could be in a downtrend. However, this suggests that the pullback space will be limited. In this context, investors are advised to be careful and focus on short-term movements.
For BTC, the strategy is based on taking a short position between 56,800-56,500 and targeting around 55,000. For ETH, it is recommended to take a short position between 2,420-2,450 and target 2,320.
Conclusion
The market can be volatile and uncertain, but such times are an opportunity to develop solid strategies. Investors need to be prepared for rapid changes in the market and adopt a balanced approach. Remember, every challenge brings a new opportunity and with the right strategy, it can be turned into a market advantage.
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- The information contained in this article is never investment advice, but is for accurate and up-to-date information purposes. STAY TUNED. Be sure to do your own research.
