The daily K-line of Bitcoin has a large bearish candle with equal length shadows, dropping over 4000 points last night. Currently, the hourly chart is in a rebound phase, with the upper band moving downward. Today, it is crucial to focus on the mid-band resistance of the daily K-line, followed by the mid-band resistance of the 4-hour chart, and the upper band resistance of the hourly chart. The bulls need to reclaim territory, and these levels must be broken to the upside. With the ongoing volatility and frequent news, the strategy should primarily focus on short positions. The resistance near the previous high of around 110,000 has been tested multiple times. If this price does not drop, there will be no way to enter the spot market!

For Bitcoin, the upper pressure to watch is around 105,800 and 106,800. Enter short positions on a rebound here, targeting down to 104,500, 103,500, and 102,500.

For Ethereum, the upper pressure to watch is around 2,550 and 2,600. Enter short positions relying on this level, targeting down to 2,500, 2,450, and 2,400.

Personal opinion, for reference only! #GENIUS稳定币法案