From the 4-hour chart
Bitcoin's trend showed an upper shadow line when it approached 29500
This is also what we mentioned yesterday: the breakout and then the fall back shows that 29500 is still effective as a pressure point
Those who hold short orders can continue to hold them. Those who have not entered the market can consider entering the market, but the position should be lighter. Use this short-term high point as the stop loss point.
If the rebound strength of the small level is strong, the market may return to around 30,000 again and then continue to fall. The trend of effectively breaking through the support of 29,500 is still valid.
However, the trend of small-scale is more volatile, so you need to be mentally prepared. For intraday trading, it is recommended to open a short position near the current price of 29500, with a stop loss at 29700 and a target of around 28500.
If the stop loss is triggered, it means that the short-term bullish force is strong. You can open a short position again near 30050. The target remains unchanged. You must control the risk in short-term trading. You are responsible for your own profits and losses.
ETH: Ethereum's 4-hour chart shows that it broke through 1870 and started to fall, but is now consolidating around 1870.
If you hold short orders near 1870, you should also set a stop loss. There is a certain pressure above this short-term rebound. If the stop loss is triggered, the market will continue to rebound. In the future, we will look for opportunities to arrange short positions again.
In general, Ethereum is still in a bearish trend after breaking the support. The market needs to break through the 1904 high to break this downward trend. The layout of the future market will be adjusted according to market conditions.
For intraday trading, those who previously held short orders near 1870 should set a stop loss. Those who do not have short orders can consider opening a light position at the current price close to 1883 with a stop loss at 1905 and a target between 1830-1780. Risks must be controlled for short-term trading and profits and losses are at your own risk.