crypto Market
RESISTANCE LEVELS AND STRATEGIES IN THE CRYPTO MARKET
Are You Bullish on SWARMS?
Bitcoin (BTC) and Ethereum (ETH) prices have experienced significant fluctuations in recent times. After falling below the $96,000 level, BTC showed a slight recovery and reached this level again; however, the expected long position continuity could not be maintained. In the evening hours, it fell below the $95,000 level and retreated to around $94,500. Similarly, ETH also reached the target of $3,300 with a decline starting from the $3,370 level.
Analysts consider whether BTC's support around $94,000 will be broken as a critical threshold for the general direction of the market. Although the KDJ indicator shows signs of recovery at bottom levels on the 4-hour charts, the recovery may be limited due to ongoing selling pressure. Therefore, selling pressure may continue at high levels.
Experts recommend investors to carefully monitor market movements during the opening hours of US exchanges and set stop-loss levels against sudden market changes. Short positions can be opened for BTC in the range of $96,000-$96,500, with a target level of $94,000. For ETH, short positions can be considered in the range of $3,360-$3,390, with a target of $3,300.
As a result, during this period of high volatility in the crypto markets, it is crucial for investors to closely monitor market dynamics and prioritize risk management.
- The information in this article is never investment advice and is for accurate and up-to-date information purposes. Be sure to do your own research❗️
