The history of the cryptocurrency market has repeatedly verified that the big ups and downs will eventually settle, and truly valuable projects will prove themselves over time.
Last night, Bitcoin oscillated from a low of 93,500 to a peak of 94,500 before retracing, currently maintaining a fluctuation below 94,000.
Ethereum similarly rebounded from a low of 1,781 to 1,808 before a slight pullback.
Technical analysis shows: although the four-hour chart has broken through a key resistance level, the rebound lacks strength, and previous bullish attempts have failed to effectively break through, indicating insufficient upward momentum.
The current one-hour chart is approaching the lower bound of the support level, and the downward channel is gradually opening, with bearish energy accumulating. It is recommended to remain on the sidelines and wait for the market to choose a direction to break through.
Trading suggestions
Short Bitcoin around 935-940, targeting below 925.
Short Ethereum around 1,785, targeting 1,730.
