$BTC Digital World, Cryptocurrency as King, with Wisdom as Blade and Belief as Shield, Cutting Through the Mist, Welcoming Glory. Wednesday Afternoon Market, Bitcoin rose from a low of 117044 to 118360, while Ethereum climbed from 3739 to 3834. The morning strategy for long positions was perfectly executed: Bitcoin long at 117500 exited at 118250 (+750 points), Ethereum long at 3750 exited at 3830 (+80 points). In the afternoon, advised to go long near 117400/3750, and in the evening, Bitcoin exited near 118600 and Ethereum near 3830, capturing an additional 1200 points for Bitcoin and 80 points for Ethereum!
The four-hour chart shows three consecutive bullish rebounds followed by bears regaining control, forming a two-consecutive bearish pullback. Technical indicators are generally bearish: KDJ: Three lines converge, death cross formation is complete, with no signs of reversal. MACD: The fast and slow lines are running below the zero axis, the histogram shrank and rebounded before again expanding downward, increasing bearish momentum. RSI: All three lines are in the weak zone, pressured below the 50 midpoint and showing a downward trend, with buying power continuously diminishing. Key resistance: The intraday rebound highs of 118800 and around 3830 form secondary resistance levels. Market outlook: The bearish pattern of indicators is clear, resistance is effective, and a continuation of pullback is expected. Maintain a bearish outlook in operations. Adequate pullbacks will build momentum for effective breakthroughs to new highs in the future.
Midnight Bitcoin can short near 118800-118300, target focusing on 116500-115500.
Ethereum can short at 3860-3830, target focusing on 3700-3650.
The four-hour chart shows three consecutive bullish rebounds followed by bears regaining control, forming a two-consecutive bearish pullback. Technical indicators are generally bearish: KDJ: Three lines converge, death cross formation is complete, with no signs of reversal. MACD: The fast and slow lines are running below the zero axis, the histogram shrank and rebounded before again expanding downward, increasing bearish momentum. RSI: All three lines are in the weak zone, pressured below the 50 midpoint and showing a downward trend, with buying power continuously diminishing. Key resistance: The intraday rebound highs of 118800 and around 3830 form secondary resistance levels. Market outlook: The bearish pattern of indicators is clear, resistance is effective, and a continuation of pullback is expected. Maintain a bearish outlook in operations. Adequate pullbacks will build momentum for effective breakthroughs to new highs in the future.
Midnight Bitcoin can short near 118800-118300, target focusing on 116500-115500.
Ethereum can short at 3860-3830, target focusing on 3700-3650.
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BTC
116,919.37
+0.19%
ETH
4,175.71
+6.50%