Observing on the 4-hour chart, Bitcoin has not yet fallen below the bottom of the oscillation range. After testing the support again yesterday, there was a small rebound. Since the price fell near 31850, Bitcoin has not rebounded effectively and has been oscillating slightly at the bottom. Although the trend of Bitcoin is a volatile market, the rise has been delayed. Therefore, we need to be alert to the market breaking down and start to pull back after the short-term support is broken. In addition, we also need to pay attention to the subsequent ETF review. At present, we need to be prepared for both hands, and we can continue to open long around the support before the support is broken. You can enter the market directly near the current price of 29790, stop loss 29400, and the target range is 30800-31300.
If the market breaks down and long orders are cleared, you can wait for the price to fall below 29,400 before chasing shorts. After that, Bitcoin will start to pull back and is expected to fall below 27,500. If the ETF is approved, it will have a positive impact on the market and the market may rise. In trading, everyone should pay more attention and be mentally prepared. In intraday trading, you can go long with a light position first, observe the market trend, and then make a new layout based on the trend. Short-term trading must control risks and profits and losses are at your own risk.
As for Ethereum, from the 4-hour chart, 1870 is the support level, and it failed to break through yesterday's decline, with the lowest point at 1875. In the short term, it has been testing the support level but failed to break through, and there has been no rebound. In this case, we need to consider many aspects, and once the market falls below the support level, how should we respond?
Judging from the current trend, long orders can still be entered, but be prepared to break the support. If it effectively falls below 1870, Ethereum will test the short-term low of 1823. Once it falls below this position, the short-term decline will begin to accelerate, and may reach the 1780-1710 range. In intraday trading, we still have to arrange short-term long orders first, and enter the market directly near 1890, stop loss 1760, and the target range is 1970-2000. If the market falls below the stop loss, it can be shorted when it rebounds to around 1875, with a target below 1780. The current market needs to wait for the market direction to be confirmed. Short-term trading must control risks, and profits and losses are at your own risk.
