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Market Outlook: Ethereum Struggles to Rebound Amid Bearish Pressure โ Latest Bitcoin & Ethereum Analysis
Bitcoin Analysis:
The current price of Bitcoin stands at $99,400, with the downtrend still in play. Market sentiment appears to be predominantly bearish. Recently, Bitcoin's price dipped below both short-term and long-term moving averages, signaling an accelerated decline. This drop is coupled with rising trading volume. Both the MACD and Bollinger Bands are indicating a weak market, with downward momentum showing no signs of slowing. Li Ying believes that in the near term, the price could test the previous support level of $99,000. Should it break through this support, the price may continue its downward trajectory toward the next support level. If the support holds, we might see a brief consolidation phase at these lower levels. Li Ying advises monitoring the $99,000 support closely. If this support level is breached, risk management strategies like stop-loss orders should be considered, possibly reducing positions. If the support is maintained, it may be wise to scale down positions and wait for a clearer market direction.
Li Yingโs Trading Plan:
Long Entry: $99,000, additional buy at $98,000, stop loss 500 points, target $101,000
Short Entry: $101,000, additional sell at $101,500, stop loss 500 points, target $99,500
Ethereum Analysis:
Ethereum's price is currently at $2,180. Li Ying notes that the market remains weak overall, with Ethereumโs price dropping from a peak of $2,880 to hover around $2,155. There's a possibility of further downside in the short run, as all indicators suggest continued bearish momentum. The price may test the critical support at $2,155, and if it breaks below this level, Ethereum could move toward the psychological $2,000 mark. The short-term rebound strength is weak, and a reversal seems unlikely at the , !
$BTC $SOL $ETH
Bitcoin Analysis:
The current price of Bitcoin stands at $99,400, with the downtrend still in play. Market sentiment appears to be predominantly bearish. Recently, Bitcoin's price dipped below both short-term and long-term moving averages, signaling an accelerated decline. This drop is coupled with rising trading volume. Both the MACD and Bollinger Bands are indicating a weak market, with downward momentum showing no signs of slowing. Li Ying believes that in the near term, the price could test the previous support level of $99,000. Should it break through this support, the price may continue its downward trajectory toward the next support level. If the support holds, we might see a brief consolidation phase at these lower levels. Li Ying advises monitoring the $99,000 support closely. If this support level is breached, risk management strategies like stop-loss orders should be considered, possibly reducing positions. If the support is maintained, it may be wise to scale down positions and wait for a clearer market direction.
Li Yingโs Trading Plan:
Long Entry: $99,000, additional buy at $98,000, stop loss 500 points, target $101,000
Short Entry: $101,000, additional sell at $101,500, stop loss 500 points, target $99,500
Ethereum Analysis:
Ethereum's price is currently at $2,180. Li Ying notes that the market remains weak overall, with Ethereumโs price dropping from a peak of $2,880 to hover around $2,155. There's a possibility of further downside in the short run, as all indicators suggest continued bearish momentum. The price may test the critical support at $2,155, and if it breaks below this level, Ethereum could move toward the psychological $2,000 mark. The short-term rebound strength is weak, and a reversal seems unlikely at the , !
$BTC $SOL $ETH
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