A day passes quickly. In the morning, I provided a suggestion for a long position on Bitcoin, which perfectly took profit and rebounded to $86,000. The Ethereum trend is weaker, only rebounding to $1,650. Currently, the market is beginning to retrace; the rebound is gradually losing momentum, and bears are starting to counterattack. At present, the Bitcoin price is $85,600 and the Ethereum price is $1,630. Based on the current trend, the market is likely to decline further, so it's time to exit long positions and prepare to enter short positions.

Technical Analysis

Currently, the Bollinger Bands are gradually narrowing, and the market trend is becoming smaller, indicating that it will enter a period of consolidation. This period will not last long; after the consolidation ends, the market will expand again. The KDJ has formed a death cross, and the MACD green energy bars are gradually increasing. The four-hour chart is running near the support level of the middle Bollinger Band. If the middle Bollinger Band is broken in the four-hour chart, the market decline will further widen.

Trading Suggestions

Bitcoin: Suggest to short near $85,600 with a target of $84,400.

Ethereum: Suggest to short near $1,630 with a target of $1,580.

There are many types of investments; choosing the right one for yourself is very important. There are many paths, and choosing the right guide is crucial. I am Gu Yue, personally interpreting world economic news, analyzing global investment trends, and providing daily market trend analysis to offer you the latest trading strategy ideas and professional investment consulting services to help you reach the peak of financial management.

This article only represents personal opinions, for reference only, and is not intended as a basis for actual operations. The market is volatile, and profits and losses are your own responsibility. #比特币