The bearish trend continues, with Bitcoin at 50,000 and Ethereum approaching 2,800?

CN
3 months ago

Currently, from the daily chart perspective, the 60000 support level for Bitcoin has been breached, as anticipated in the previous analysis. Once the 60000 support level is breached, it can be considered as a continuation signal for the bearish trend. The immediate target is around 58000, and the current price has dropped to around 57000, approaching the previous low of 56500. If the daily closing price fails to stay above 58500, it may become a new resistance level, while the 60000 level could signal a bullish reversal. Ethereum is also expected to break below the previously mentioned 3350 level, which is an important point for the continuation of the bearish trend. If breached, the next target is around 3200, and the current price has dropped to around 3100, which is a short-term support. Further decline could lead to levels between 3000 and 2800, while resistance levels are seen at 3250-3350.

From the 4-hour chart perspective, Bitcoin may find support around 56500, with short-term resistance seen around 58500-59000. Ethereum faces short-term pressure around 3220-3250 and support around 3050-3100.

The current market has once again moved as expected. Unfortunately, the short positions were established early in the morning, and the rebound position was not accurately captured. Short positions were taken at 61000-61500 for Bitcoin, with targets at 60000-59000, and at 3350-3370 for Ethereum, with targets at 3300-3200. All targets were reached beyond expectations. The bearish trend continuation strategy remains accurate, and it is suggested to focus on short positions in the future. It is anticipated that Bitcoin may reach 50000 in the bearish trend, while Ethereum may target the previous low of 2800.

Operational strategy: Continue with the bearish trend and maintain short positions.

Short Bitcoin at 58000-58500, with targets at 57000-56000 and stop loss above 59000.

Short Ethereum at 3180-3200, with targets at 3100-3000 and stop loss above 3250.

The strategy is time-sensitive, and real-time guidance is the primary consideration.

Professional analyst Ruoyu, from the professional team focusing on contract trading guidance, can be followed on WeChat public account "币圈若渝" for real-time market analysis and operational strategies.

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