The current decline is understood from the peak; it is not just a simple drop due to non-farm payrolls. It is based on the fundamental topping structure. Currently, Yanling is concerned with whether the 109000 resistance can be effective. Originally, if Bitcoin had not experienced a non-farm drop, it could have evolved into a channel consolidation. However, since there has been a sharp decline, to determine whether the price can return to an upward adjustment posture, it is essential to have resistance at 109000. This is also the best entry point for a second short position, offering a very high cost-performance ratio. If the resistance is effective, excluding the thought of holding long-term, making a settlement over the weekend can be considered around 106500, and then looking at 105000 for support before assessing the strength of any upward rebound in the future.
From a technical indicator perspective, the daily chart shows that the price has recently retreated from a high position, with a large bearish candle formed yesterday, indicating that the bearish forces are currently strong, and the upward momentum of the past few days is gradually weakening. On the hourly chart, several consecutive K-lines have closed bearish, with the price quickly falling from around 109500 to about 107500, showing a short-term downward trend. The hourly MACD technical indicator continues to expand downwards, with both DIF and DEA below the zero axis, and the green bars are increasing, indicating that the current market is in a clear bearish trend. The hourly RSI value is 27.75, close to the oversold zone, but has not yet entered the extreme low area, which may indicate a demand for a technical rebound. The hourly EMA7, EMA30, and EMA120 are all in a bearish arrangement, with the price operating below all moving averages, and EMA7 is exerting pressure on the price.
Weekly Yanling 7.5 Bitcoin trading strategy:
1. Short between 108500-107800, stop loss above 109500, target around 106600, continue to look for a breakdown towards 105500.
2. Long between 105500-106500, stop loss below 104500, target 107800-108600.
Weekly Yanling 7.5 Ethereum trading strategy:
1. Short between 2530-2500, stop loss above 2570, target 2430-2390.
2. Long between 2370-2410, stop loss below 2330, target 2490-2520.
[The above analysis and strategies are for reference only. Please bear the risks. The article review and release may have a delay, and the strategy lacks timeliness; specific operations should follow Yanling's real-time strategy.]
The content of this article is exclusively shared by senior analyst Zhou Yanling. The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations $BTC $ETH .
