The daily chart of Bitcoin shows that after breaking the support of 62,000, the price quickly fell to the 61,000 level. Although there was a certain rebound in the early trading, the key question is whether the price can stand firm at the 60,000 integer mark. The main pressure level on the daily chart is the 62,500 level. On the short-term four-hour chart, the Bollinger three lines are in a downward trend, and the price continues to hit new lows. We suggest focusing on the support strength of the 60,200 level, while the upward resistance is around 63,000. The one-hour chart shows an overall negative trend with relatively low trading volume, but the short-order trading volume increased significantly in the early morning, which means that there may be a certain degree of rebound in the Asian and European sessions. Based on the above suggestions, we suggest shorting Bitcoin when it rebounds.
As for Ethereum, the bearish trend is obvious on the daily chart, and the price has tested the four-hour support range of 2950-2930 mentioned yesterday. At present, the price has a certain rebound strength, but it is necessary to pay attention to whether it can form a top-bottom conversion strength at the 3000 line. The suppression force on the daily line has not moved down with the price drop, so we suggest focusing on the suppression strength at the 3050 line. On the short-term four-hour chart, the continuous decline has caused the support force below to weaken significantly. If 2950 continues to break, it is necessary to focus on the 2880 line. The one-hour chart shows that the price may try to break through the 3000 integer mark when it rebounds, but only if it can break through 3030 will it show signs of stopping the decline, otherwise the bearish force may intensify. Based on the above suggestions, we believe that Ethereum should focus on shorting when it rebounds.
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