BTC hit 66800, as expected. We successfully harvested the first phase of profits from the long position layout of 60000. Although we recommend reducing positions to avoid risks, this does not mean that the price of the currency has peaked. So, after reducing positions, what will be the short-term trend of BTC? Let's make a brief analysis.
Last week, BTC experienced two consecutive rebounds after falling back to the 60,000 mark. The price of the currency rose from 59,600 to 67,250, an increase of more than 7,600 points in a short period of time. However, since Friday, the price of the currency has been in a state of rebound adjustment in shock. The daily line has risen for five consecutive days and has just hit the resistance level of 66,800. If there is resistance at this position, the daily line may fall back.
Currently, the hourly line is stable above 66500, which will support our continued bullish outlook. If it can break through and stabilize above 66800 again after a short-term correction, the daily upward momentum may continue to the 68000 mark. However, it should be noted that despite the recent rebound of 7600 points, it is still within the 59600-73000 range.
Therefore, today's operation suggestions are as follows: after the early morning decline, first buy more than the support level near 66200; pay attention to the second breakthrough of 66800. If it can stabilize, continue to be bullish, with the target pointing to 68000. If the rebound is under pressure, consider short-term entry of short orders in the range of 66800-67000. The specific operation shall be determined according to the actual trend.
Ethereum still looks vulnerable, but fortunately, the daily line managed to stabilize above the 3130 conversion level in yesterday's rebound. Despite this, the resistance above is still very heavy, and the challenge is still arduous for bulls. At present, the daily line has encountered resistance suppression at the 3220 line, and the short-term has been frustrated many times. However, if it can break through strongly and stabilize at the above position today, it is expected to rebound to the 3300 mark. Otherwise, the short-term may face the risk of a correction. In terms of today's operations, it is recommended to focus on the 3150-3170 area below.
