4.8 Tuesday Morning Bitcoin Ethereum Market Analysis and Trading Suggestions
Last night, after a rebound that peaked around 81,200, the coin price fluctuated downward without a significant drop. The retracement strength during the process also weakened, and the short-term bearish rhythm has slowed down, with the market entering a phase of consolidation and correction. Our morning strategy remains focused on short positions.
From the current market perspective, the daily chart shows a large bearish candle retracing to refresh the low point. Driven by the U.S. stock market, although there was a significant rebound last night, it failed to stabilize and quickly fell back below the 80,000 mark. The long upper shadow on the 4-hour chart also confirms the weakness of the bulls. Currently, there is a broad washout pattern with slow increases and fast corrections, where the retracement space is greater than the upward space, leading to severe fluctuations. It is necessary to adjust flexibly based on real-time patterns. The 80,000 mark is a key dividing line; if it does not stabilize at this level, we maintain the retracement strategy. If the market adjusts above 80,000, it will be an opportunity for a rebound entry, but we still need to pay close attention to signals from the Federal Reserve regarding interest rate cuts and be wary of possible reversals.
Trading Suggestions:
Short positions in Bitcoin can be initiated in the range of 81,000-82,000,
Targeting around 78,500,
Short positions in Ethereum can be initiated in the range of 1,580-1,610, targeting around 1,530
