Bitcoin has rebounded for three consecutive days, currently touching moving average resistance, with expectations of adjustment. This wave of rebound has been strong enough to directly V-shaped reverse rise since the positive economic data was released on Friday. Now that it has reached the upper resistance, after a period of adjustment, it will attack again. At this time, we need to focus on the size of the adjustment force; horizontal adjustments go without saying, the next wave of market will still be strong. However, if the rebound is weak, the adjustment force will expand, so pay attention to the adjustment range. Once the adjustment falls to 103300 points, it will indicate that the downward pressure has increased. The best stop-loss point for this adjustment is expected to be around 104630, and adjusting to this area is likely to start a new round of upward market. In terms of operational strategy, during the upward process, adjustments are expected, and the volatility space is relatively small, so participate less or not participate in adjustments, waiting for the adjustment to stop falling before entering long positions again.
Bitcoin short contract position, short-term short operation near resistance point 106890, take profit around 104680, stop loss at 107690.
Bitcoin long contract position, short-term long operation near support point 104625, take profit around 106890, stop loss at 103825.
The strength of Ethereum’s rebound over the weekend is significantly weaker than Bitcoin's. Bitcoin has already touched the moving average resistance, while Ethereum is still some distance away. Currently, the three-day rebound has only repaired one large drop candle on the 4-hour chart, and there is still a lack of strength. If Bitcoin also adjusts, there is an expectation that Ethereum's adjustment force will expand. However, after this wave of adjustment, even if Ethereum's downward phase is completed, a strong rebound market will begin. In terms of operations, Ethereum's downward phase can be appropriately participated in until leaving near the support point, then reversing to long. The only thing to be cautious about is that Bitcoin's large fluctuations will disrupt the original rhythm. While participating in Ethereum, always pay attention to Bitcoin’s volatility. If there is a large increase or crash and the direction is opposite to your position, be prepared to exit at any time.
Ethereum short contract position, short-term short operation near resistance point 2562, take profit around 2400, stop loss at 2577.
Ethereum long contract position, short-term long operation near support point 2385, take profit around 2530, stop loss at 2370.
The opinion is for reference only; use stop loss and take profit.