Good morning everyone. After the price of the pancake reached the 955 line this Sunday morning, it quickly rebounded to the 96 line. The strong bullish trend led to the layout of long positions. Unfortunately, after the price rebounded to the 96 line, it failed to continue and began a stepwise decline until today morning, regrettably hitting the stop loss and exiting.
Yesterday at midnight, the price trend of Ethereum showed characteristics of a slow rise followed by a sharp decline. Its price rose to a high of $1841 amidst fluctuations, then quickly dropped, even touching a low of $1800 this morning. The trend of Bitcoin was similar, with its price first peaking at $95700, then facing pressure and starting to decline, dropping to a low of $94100 this morning. From the daily chart, the current coin price is below the upper Bollinger Band. After experiencing a strong rise, the consecutive two bearish candles indicate the strong suppressive effect of the upper Bollinger Band. The bullish candle body accompanied by a long upper shadow indicates that the bullish strength is still insufficient to support a sustained breakthrough in price. Meanwhile, both KDJ and RSI indicators have begun to turn down, and the MACD histogram is also continuously shrinking, suggesting that the market may shift from strong to weak. On the four-hour level, the coin price shows a stepwise decline and has fallen below the lower Bollinger Band, with the MACD histogram consistently in the negative zone, maintaining a dead cross shape, and continuing to diverge below the zero axis.
Today's morning trading strategy is mainly based on high short and low long positions.
Ethereum can go long at the current price with a target of 1830.
If pressure forms near 1830, then short, with a target around 1750.
Bitcoin can go long at the current price with a target of 95000.
If pressure forms at 95000, then reverse to short, with a target around 93000.
