Hello everyone, I am Gu Yue. Last week's market can be described as a rollercoaster, with a fierce upward trend initially, breaking through to historical highs before peaking and dropping to a low of around 67,000. It is currently stabilizing around the 69,000 level. Analyzing from the daily chart level, it shows a bullish engulfing pattern, with five consecutive bearish candles. The daily chart is now at the middle Bollinger Band support, and the MACD green energy bars are gradually expanding, with the DIF line crossing below the DEA line forming a death cross. The trend is gradually shifting from bullish to bearish compared to last week. The candlestick has moved down from the triangular area, proving that the market will likely continue to decline.
Ethereum's trend is somewhat different from Bitcoin. While Bitcoin has reached $70,000, Ethereum has not even reached $3,000. Currently, the trends are inconsistent and show significant lag, moving relatively slowly. On the 21st, the candlestick formed a double top structure, followed by a rapid market decline, dropping below 2,400 and then rebounding to around 2,700 before forming a evening star and dropping again to about 2,400. The market still follows a downward path.
For Bitcoin, it is recommended to short around 69,000, with a target of 67,500-67,000 for profit-taking.
For Ethereum, it is recommended to short around 2,480, with a target of 2,420-2,400 for profit-taking.
There are many types of investments, and it is important to choose what suits you. There are many paths, and choosing the right guide is crucial. I am Gu Yue, personally interpreting world economic news, analyzing global investment trends, providing daily market trend analysis, and offering you the latest trading strategy ideas, along with professional investment consulting services to help you reach the peak of financial management.
This article represents personal views only and is for reference only. It should not be used as a basis for actual operation. The market is unpredictable, and profits and losses are self-responsible. For the latest trading strategies, follow the public account: Gu Yue KOL
