First, let's analyze today's market trend!
BTC Bitcoin 4-hour K-line trend:
Upper resistance level: around 95158～96830
Lower support level: around 91150～92900
ETH Ethereum 4-hour K-line trend:
Upper resistance level: around 3406～3520
Lower support level: around 3108～3215
Technical analysis:
First, Bitcoin's 4-hour cycle K-line is rising with decreasing volume, the 4-hour K-line price has slightly rebounded near the double bottom of 92819, but the volume performance is poor, and the rebound is weak. Please pay attention to the upper resistance level around 96830.
Second, the trend indicators for Bitcoin in periods below 12 hours are still showing a bearish trend. The short-term operation strategy is to short on rallies!
Third, Bitcoin's 4-hour MACD indicator's slow line is also breaking below the 0 axis after the fast line, entering the bearish territory. It is expected that the price will continue to decline and consolidate later. For short-term operations, short on rallies. Once the price retraces and rebounds to the 15-minute and 30-minute EMA60 moving averages, double top pattern, or important neckline resistance level, it will be the best opportunity to enter short positions!
In small cycles of 15 minutes and 30 minutes, if a bottom divergence pattern appears, you can consider entering a light long position for small wave profits (please set take profit and stop loss).
The above market analysis and trading strategy suggestions are for reference only.
Everyone can use Bitcoin's correlation effect to make some take profit and stop loss on altcoins. If this round of Bitcoin fails to break through the upper resistance around 96830, there will be a second bottom test, so other altcoins also need to reduce positions to avoid risk!
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