Currently, from the perspective of the daily chart, after breaking through the 60,000 mark, the market has plummeted. The market trend is as expected in the previous analysis. Once the 60,000 mark is broken, it can be seen as a signal for the continuation of the bearish trend. Yesterday, the market failed to hold above the 58,500 mark before the daily closing, and our bearish position is once again optimistic about the continuation of the downtrend after testing the resistance. The morning low fell to around 53,300, and the current market is oscillating upwards to around 55,800. Ethereum's daily chart is also expected to break through the previously mentioned 3,350 mark, continuing the bearish pace. The market fell to near 3,100 as short-term support yesterday, and the rebound basically reached the expected position of around 3,180 before starting to fall again. As mentioned earlier, if the downtrend continues, we will look at 3,000-2,800. The morning low of 2,800 also hit the mark accurately, and the current market is oscillating upwards to around 2,950. Looking at the 4-hour chart, after the big drop to around 53,300, there was a rebound, unexpectedly breaking through the previous low support of 56,500. According to the reversal, the 56,500 mark will form a new resistance. Short-term support is temporarily seen at 53,500-54,000, and Ethereum has also basically reached the previous low position, with short-term pressure at 2,950-3,000 and support at 2,800-2,850.

The current market has successfully met expectations. Yesterday afternoon, short positions were opened for Bitcoin at 58,000-58,500, targeting 57,000-56,000, and for Ethereum at 3,180-3,200, targeting 3,100-3,000. The previous analysis also emphasized the idea of continuing to look for a bearish trend. This bearish trend is optimistic that Bitcoin can reach 50,000, while Ethereum is looking at the previous low of 2,800. Friends who followed this strategy should have profited. In my personal opinion, Bitcoin has not yet fully retraced, and it is expected to continue to test the resistance in the future. Subsequently, it will continue to test the 52,000-50,000 mark, while Ethereum needs to observe the support at the 2,800 mark. If it breaks, continue to look at the 2,600-2,400 mark!

Trading strategy: Continue to look for a bearish trend, and continue to short on rebounds!

Short Bitcoin at 56,500-57,000, target 54,500-53,500, stop loss above 57,500;

Short Ethereum at 3,020-3,050, target 2,950-2,850, stop loss above 3,060;

The strategy is time-sensitive, and specific guidance in real time is the main focus!

Professional team's top analyst, Ruoyu, focuses on contract trading guidance. Follow WeChat public account "币圈若渝" to understand real-time market analysis and trading strategies!

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