After the daily level Bitcoin reached the resistance line of 102,000, it then closed with a bearish candle. Currently, it has repeatedly touched this level without breaking through, proving that the pressure here is still very strong. The market is once again in a small box structure consolidation phase, with the upper limit at 102,000 and the lower limit between 98,500 and 96,000. Ethereum has closed with two consecutive bullish candles after bottoming at 3,550 and has been rising since then. However, it has not yet reached the resistance level of 4,000. Short-term support is seen at 3,850-3,880.
On the 4-hour level, it is clear that Bitcoin started to rebound after touching the bottom at 95,000, and began to decline after reaching the top near 103,000, with an intermediate position at 99,500. Ethereum also clearly rebounded after touching the bottom at 3,550 and started to decline after reaching the top at 4,000, with an intermediate position at 3,750-3,800.
Due to the difficulty in accurately predicting the pin positions, the second target for the long position set yesterday was not precisely reached. However, there were still some gains overall. Currently, the market is testing the top, and it will take time to break through the box. It is expected that the box operation will continue for a while, and the strategy can shift to focusing on short positions!
Trading strategy: Focus on short positions!
Short Bitcoin at the current price of 100,100-100,600, with a target of 99,000-98,000 and a stop loss above 101,500;
Short Ethereum at the current price of 3,890-3,920, with a target of 3,820-3,750 and a stop loss above 3,960;
The strategy is time-sensitive, and specific guidance will be provided privately in real-time!
Professional team gold medal analyst Ruo Yu focuses on contract trading guidance. Follow the WeChat public account "Coin Circle Ruo Yu" to understand real-time market analysis and trading strategies!
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