Coin Circle Li Ying: The 7.5 Bitcoin high position pullback is not accidental! Ethereum still has downside risks! Latest market analysis
Coin Circle Li Ying: Latest market analysis for 7.5 Bitcoin
Current price of Bitcoin is 107700, and the high position pullback trend on the market is something Li Ying believes everyone can understand. The price has fallen below multiple moving averages and is approaching the lower Bollinger Band. Short-term bullish momentum is weakening, so Li Ying believes that although there is a possibility of a technical rebound in the short term, attention should be paid to whether the price can find support at the lower Bollinger Band. If it breaks below this level, the price may further test the previous low point of the 98000 area. Finally, Li Ying suggests not to be overly bullish, and it is advisable to stay on the sidelines or try light short positions. If the price rebounds and is blocked around 110500, then consider setting up short positions at high levels; if the price successfully stabilizes at 107900 and shows signs of stability, then a short-term long position can be considered, but the position should be controlled to prevent fluctuation risks.
Today's reference points:
Long entry point 107000, stop loss 106000, stop loss 500 points, target 109500
Short entry point 110000, stop loss 110500, stop loss 500 points, target 107500
Latest market analysis for Ethereum
As of the time of writing, the current price of Ethereum is 2500. Li Ying has observed that the current market trend has been continuously retreating since the high point of 2636, and is currently fluctuating near 2500. The candlestick pattern shows a bearish signal of three black crows, and the appearance of a double top further confirms the market's weakness. Short-term technical indicators such as RSI and MACD also indicate that momentum leans towards bearish, and the price may still have the risk of further decline, so in the short term, Li Ying believes that market momentum is biased towards bears, and the price may further go down and approach the lower Bollinger Band or test the recent support level. A rebound is not ruled out in the short term, but the strength and sustainability of the rebound may be weak. Finally, Li Ying suggests that cautious operation should be the main approach. Friends who are more certain about the bearish direction can look for opportunities to sell on the rebound, but reasonable stop-loss levels should be set.
Short-term strategy reference:
Long entry point 2400, stop loss 2380, stop loss 30 points, target 2530
Short entry point 2550, stop loss 2600, stop loss 30 points, target 2450
The above is Li Ying's brief analysis of the current market situation for investors' reference