After the Bitcoin price hit a low of 74578 in the morning, it experienced a rebound in the afternoon, rising back to 77906 before facing resistance and showing signs of a downward trend again. Our strategy today is to short around the 78000-74000 range. The intraday shorts have also been successful. As for Ethereum, the intraday movement has been relatively flat; after a strong decline to 1358 in the morning, the price rebounded slightly but has slowed down, currently trading around 1450.
From the current daily trend, the market has shown three consecutive bearish candles with a pullback under the previous surge of bearish sentiment. After the decline, the price has been oscillating at lower levels, with short-term fluctuations between bulls and bears without much continuation. Currently, the daily candle has closed again with a slight bearish trend, and the overall rhythm continues to follow the bearish sentiment. The 4-hour chart shows a downward oscillating trend, with all rebounds being retraced, indicating a clearly bearish pattern. The suggested strategy is to participate in the trend! For the evening, we mainly focus on short positions.
Trading Suggestions
Short Bitcoin around 77000, target 75000
