Technical Analysis: Bitcoin: BTC

The current market is still in a critical support struggle phase, with bearish market sentiment prevailing. However, short positions have increased significantly, and both borrowing rates and long positions have dropped to low levels, indicating that there is support below. If there is a continued significant decline, bears will find it difficult to gain more profits. From a weekly perspective, Bitcoin has been adjusting for three consecutive weeks, and the market sentiment is once again dominated by bears.

The strength of short positions has reached 10.2 billion, while the strength of long positions is 2.9 billion, widening the gap in market sentiment. The 4-hour chart shows that last night Bitcoin briefly broke the recent key support level of 92,000. Although there has been a recovery, it still faces repeated tests of support.

Intraday trading suggestion: Focus on the resistance level in the range of 93,350-94,000, and watch the support level in the range of 92,000-91,500.

Ethereum: ETH

Ethereum's performance is still stronger than Bitcoin, but it has recently been dragged down by Bitcoin's decline in price.

The 4-hour chart shows that ETH has built a bottom around 3,300 multiple times, and the downward pressure is evident, indicating that this position is a key support level.

The market is currently testing the support at 3,300 points, and if it breaks, it may drop to around 3,100. The 300-point mark remains the dividing line between bulls and bears; once it is broken, a two-week adjustment may follow.

Intraday trading suggestion: Pay attention to the support level around 3,300 points. If it breaks down, consider focusing on 3,100 points; for resistance, watch the range of 3,400-3,440. #币安Alpha公布第9批项目 #币安MegadropSOLV #BTC挖矿难度创新高 #SUI、OP大额解锁 #币安LaunchpoolBIO预测

I am bearish. If you are currently unsure how to position yourself, feel free to reach out to me for discussion!