Today's Market Analysis Sharing and Trading Strategies!
Bitcoin (BTC)
The weekly chart closes with a long lower shadow bullish candle, rebounding after briefly breaking the 7-day moving average, with 94 as the key support level. The daily chart shows a downward consolidation structure, with 107 as the first resistance level above. Currently at the top of the second tier, if today closes with a solid bearish candle below 105, short-term downward space will open up. The 4-hour chart forms a V-shaped double top followed by a continuous bearish pullback, with the technical pattern leaning bearish. Focus on shorting opportunities in the 106-107 pressure zone during the day, with support at 104-103 below; breaking below this can see a drop to the 94 weekly support.
Ethereum (ETH)
The weekly chart shows four consecutive bearish candles with long upper shadows, with 2400 as strong support for the 7-day moving average. The daily chart operates within a high-level range (2680-2480), and after breaking below the 30-day moving average, the rebound is weak. If the daily chart closes with a solid bearish candle below 2480, the target below is 2280. The 4-hour chart has broken the rebound channel, focusing on the 2510-2540 pressure zone during the day, with support at 2460-2420 below; breaking below this will continue the bearish trend.
Trading Suggestions
BTC: Short lightly at 106-107 on a rebound, with a stop loss at 107.5 and a target of 104-103; if it breaks below 103, chase the short position with a stop loss at 103.5.
ETH: Short lightly at 2510-2540 on a rebound, with a stop loss at 2560 and a target of 2460-2420; if it breaks below 2420, hold until 2280.
Altcoins
The overall market lacks trending opportunities, suggesting to stay out and observe. The bottom absorption pattern must meet the following criteria: a volume spike followed by a volume contraction sideways, low-volume narrow fluctuations on the 4-hour chart, small-scale lines with false breakouts on increased volume without new lows. At this time, light positions can be taken for a short-term rebound, targeting a 30%-50% space, where leading coins in hot sectors may have doubling potential.
