Bitcoin is consolidating while Ethereum is catching up; the main strategy today remains short!
Bitcoin is consolidating, and the king of altcoins, Ethereum, is experiencing a catch-up rally. These two assets should still be traded separately, as they often do not move in sync. Yesterday, we shorted Bitcoin around 96,300, with a minimum pullback to the 92,464 line, easily making a profit of 3,000 points. The current price is at the 94,200 line, so what should we do today? Zhongliang brings you today's perspective!
The daily candlestick closes as a bearish doji, and the price continues to operate around the lower support of the Bollinger Bands. The lower band is opening downwards, MACD shows continued bearish momentum, and KDJ has crossed downwards, with no signs of a bottoming out yet! On the 4-hour level, the price is pulled back due to middle band resistance, performing a small deep V-shaped rebound at support, maintaining a short bias today, relying on the middle band for resistance. The areas of resistance to watch today are 95,000, 96,500, and 97,700, with support at 92,500 and 90,500.
In summary, the main strategy is to short, participating in short opportunities as the price rebounds to 95,000, 96,500, and 97,700, targeting support at 92,500 and 90,500.
Ethereum is currently priced around 3,400, but this is only a catch-up rally, so do not hold too much hope. If Bitcoin continues to decline, Ethereum tends to drop in sync, so the strategy remains predominantly short. Key resistance levels to watch above are 3,420, 3,470, and 3,520, while support levels are 3,340, 3,280, and 3,200.
In terms of operations, the resistance levels of 3,420, 3,470, and 3,520 are all places to participate in short positions in batches, targeting support at 3,340, 3,280, and 3,200.
The above is only a personal opinion; investing carries risks, and caution is advised when entering the market! #比特币市场波动观察 $BTC
