In yesterday's market trend, we had foreseen a glimmer of hope for a rebound, but the bulls did not seem to return as strongly as expected. Debon's short-term support is around 67250, but Bitcoin once again tested this support, with the lowest point reaching 67124, breaking yesterday's low. Ether was also not to be outdone, falling below yesterday's low of 3773, and the short-term position of 3820 has been lost. All these signs are sending us a signal: the bulls are gradually fading, and the shadow of a decline in the future market is getting heavier.
BTC in-depth analysis
On the 4-hour chart, there is no clear signal of a breakout in the trend of the big cake. Although the 67150 area has rebounded several times as a support level in the short term, it is still uncertain whether it can continue to serve as a support in the future. On the current 4-hour chart, the big cake has shown a downward trend, and only the bulls can break this downward trend if they exert their strength again. If today's rebound fails to bring about a significant rise, the chance of a rebound in the future will become increasingly slim. In the white market, we suggest that investors carefully arrange their positions around 67200. Once it falls below 66242, long orders may be hopeless, and the market may continue to fall to around 64200. For short-term long orders, our target position is set at the 69400-70000 range. Once this range is reached, it will be a good time to short. Investors are requested to seize the opportunity to enter the market according to their own situation. Short-term trading must control risks and profits and losses are at their own risk.
ETH Deep Insights
The trend of Ethereum appears to be weaker, giving the market almost no chance to rebound, and it has been falling unilaterally all the way. We expect the decline range of Ethereum to be between 3670-3600, and there is still a large room for decline below. Under the current trend of Ethereum, we do not recommend investors to easily try long orders. The trading strategy of Ethereum should be based on high altitude. It is recommended to arrange short orders around 3800, with the target looking at the 3670-3600 range. For short-term rebounds, we do not recommend investors to blindly chase. Once Ethereum drops to 3600, it is necessary to pay close attention to the breakout of the previous low. If it falls below this level, it may continue to drop to the 3400-3260 range. Investors need to respond flexibly according to market trends and grasp the entry time by themselves. Similarly, short-term trading requires strict risk control, and profits and losses are at their own risk.
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