#BTC #ETH The price of the currency surged rapidly in the early morning, reaching a peak of 109730 before slightly pulling back. During this period, there were multiple upward tests that failed to achieve effective breakthroughs. Currently, it is oscillating around the 109000 level. The alternative currency initially spiked to 2618 in the morning but quickly retreated to around 2580 for adjustment.
From the 4-hour K-line chart, a divergence between price and volume is evident, while the Relative Strength Index (RSI) has soared to the overbought zone at 89, and the upward momentum of the MACD indicator is continuously weakening. These signals indicate that the bulls are lacking in follow-up upward momentum. At present, the market is generally in a consolidation phase after the surge, with the morning strategy focusing on high shorts after a rebound.
Operational Suggestions
For Bitcoin, short in the range of 109200—109500 with a target of 107500.
For the alternative currency, short around 2600 with an initial target of 2500.