2.10 Bitcoin and Ethereum Trend Analysis and Trading Ideas!

CN
1 year ago

On the daily level, Bitcoin has been forming a continuation pattern with doji candlesticks above 96,000 for several days, continuously testing the key support at 96,000. The resistance level above at 98,000 has also been tested multiple times effectively. Currently, we are in a situation where there is pressure above and support below. A breakout above looks towards 100,000-102,000, while a breakdown looks towards 94,000-92,000. Ethereum's trend is relatively weak, and it has also been in a testing phase recently, with a resistance level at 2,700 and a support level at 2,550. A breakout above looks towards 2,800-2,900, while a breakdown looks towards 2,400.

On the 4-hour level, Bitcoin's oscillation range is continuously narrowing, forming a triangular area, and is currently in a breakout phase. The resistance level is at 98,000, and the support level is at 96,000. Ethereum is in a similar situation, with a resistance level at 2,700 and a support level at 2,600-2,550. A breakout can be pursued.

Previously, I have consistently suggested shorting based on resistance levels. Bitcoin can be shorted from 99,000-99,500, targeting 98,000-96,500. Ethereum can be shorted from 2,850-2,880, targeting 2,780-2,720. The current market has successfully retraced as expected, as shown in the market trend prediction chart below!

Operational thoughts: The current market continues to oscillate and is in a breakout phase, forming a continuation pattern. The weekly chart shows a continuation of the bearish trend, so it is recommended to focus on shorting at high levels!

Short Bitcoin at 97,500-98,000, targeting 96,000-95,000, with a breakdown looking towards 94,000, and a stop loss above 98,500.

Short Ethereum at 2,670-2,700, targeting 2,600-2,550, with a breakdown looking towards 2,450, and a stop loss above 2,730.

The strategy is time-sensitive, and specific guidance should be based on real-time private consultations!

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 operational thoughts!

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