Wednesday Evening Thoughts, Bitcoin and Ethereum Latest Market Analysis
Reviewing the high short strategy provided in the afternoon, the real market touched the high near 97000 twice in the afternoon, but the real market was mainly in a range of fluctuations in the afternoon without significant market volatility, typically unable to go up or down, remaining in a consolidation state. Recent momentum is leaning upwards, but various indicators indicate an overbought state, with potential retracement pressure. We will focus on the Federal Reserve meeting at 2 AM!!! Currently, the real market is in a consolidation around the 97000 line, maintaining the high short strategy in the evening. Aggressive traders can try shorting with light positions now and wait for a retracement, while conservative traders should wait for a rebound opportunity to place short orders.
From a technical perspective, the overall state is one of consolidation, with the K-line showing a red three soldiers and a doji, possibly indicating a trend reversal. The upper shadow may increase retracement pressure. The KDJ is in the overbought zone and may also retrace in the short term. The specific trend will depend on the speech in the morning to ultimately determine direction. In this scenario, it is crucial to maintain good defense and not hold onto losing positions. In the evening, we still prioritize high shorts and low longs.
Evening Trading Suggestions:
Bitcoin: Range of 97300-97800, first target at 96000.
Ethereum: Range of 1840-1870, target at 1770.
