Daily Double Bottom or Bearish Continuation? Intense Tug-of-War Between Bulls and Bears After Major Fluctuations in BTC/ETH

The intraday market has once again experienced extreme volatility, showcasing a ‘roller coaster’ trend. Bitcoin sharply plummeted from a high of 114917 in the early morning, crashing over 4200 points to a low of 110680, before quickly rebounding to oscillate around the 113000 area; in the afternoon, the price weakened again, dipping to a low of 110588 before finding support and rebounding, currently consolidating around 112700. Ethereum’s performance has been even more intense, plunging after initially reaching a historical high of 4956, breaking below the 4800 and 4700 levels, hitting a low of 4519, and then rebounding to operate around 4690. All three long and two short strategies provided today have profited, totaling a gain of 5239 points for Bitcoin and 386 points for Ethereum. All strategies were deployed in advance, strictly adhering to the take-profit and stop-loss discipline.

From a technical structure perspective, Bitcoin has received strong support and quickly rebounded twice in the 110500-110600 area, forming a double long shadow candlestick pattern on the daily chart. This area has become the most critical defense line for bulls. This pattern could signify a reversal signal of a ‘double bottom’ or a consolidation during a downtrend. The key depends on whether the price can effectively hold above 113500—if it does, it may build a bottom structure and test the 116000 resistance upward; if it loses the 110500 support, it will open up greater downside potential to the 108000-105000 area. The low of 4519 for Ethereum has reached the lower boundary support of the weekly rising channel, and whether this position can stabilize is crucial. If the rebound can re-establish itself above 4780, the overall upward trend will continue; if it effectively breaks below the 4500 level, it would indicate a potential peak, with the market likely to deeply retrace to the 4300-4200 area. In the early morning, we can follow up with a high short strategy.

Bitcoin Suggestion: Short near 113500-113800, target 111000-110500

Ethereum Suggestion: Short near 4680-4660, target 🉑 look for 4550-4500