First, analyze today's market trend!
BTC Bitcoin 4-hour K-line trend:
Upper resistance level: around 95158～96830
Lower support level: around 91150～92900
ETH Ethereum 4-hour K-line trend:
Upper resistance level: around 3406～3520
Lower support level: around 3108～3215
Technical analysis:
First, the Bitcoin 4-hour cycle K-line shows a volume decrease in the upward trend. The 4-hour K-line price dropped slightly to the double bottom near 92819 and rebounded. Currently, the volume performance is not good, and the rebound lacks strength. Please pay attention to the upper resistance near 96830.
Second, the trend indicators for Bitcoin below the 12-hour cycle still show a bearish trend. Short-term operation strategy is to short at high points!
Third, the Bitcoin 4-hour MACD indicator's slow line is also breaking below the 0 axis after the fast line, entering the bearish territory. The price is expected to continue to decline and consolidate later. For short-term operations, short at high points. Once the price retraces and rebounds to the small cycle 15-minute, 30-minute EMA60 moving average, double top pattern, or important neckline resistance, it is the best opportunity to enter a short position!
In small cycles of 15 minutes and 30 minutes, if a bottom divergence pattern appears, you can also consider entering a long position with a light position for small wave profits (please ensure to set take profit and stop loss).
The above market analysis and trading strategy suggestions are for reference only.
Everyone can consider taking profits and stop losses on some altcoins based on the correlation effect of Bitcoin. If this round of Bitcoin fails to break the upper resistance near 96830, it will need to test the bottom again, so other altcoins also need to reduce positions for risk avoidance!
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