Currently, from the daily chart perspective, after breaking the previous low of 56500, the price of Bitcoin formed a pin bar candlestick, and after testing the 53500 support level, it started to rebound. The rebound strength has exceeded expectations, and it has now reached the 58000 level. The market has shown a rapid rebound trend similar to the previous period. The resistance levels are at 58500-59000. A bullish signal could be seen if it reaches the 60000 mark. The rebound situation of Ethereum's daily chart basically meets expectations. After breaking the 3100 support level, it is expected to test the previous low of 2800. Based on the previous trend, it is not likely to easily break the 2800 support level. The layout for short positions will be at the 3030-3050 resistance level. A bullish signal could be seen at 3150-3350.

Looking at the 4-hour chart, after Bitcoin fell to around 53300 and rebounded, it has formed a strong V-shaped rebound, breaking the previous low of 56500 and establishing it as a new resistance level. Short-term resistance is seen at 59000-60000, with support at 56500. Ethereum has just rebounded after reaching the previous low of 2800, and has now reached around 3070. Short-term resistance is at 3100-3150, with support at 3000-2900.

The images above show two types of market trend predictions. The current market has shown a rebound trend. Whether it can open a bullish trend again like the previous trend depends on the important levels of 61500 for Bitcoin and 3350 for Ethereum. Personally, I believe that this trend is different from the previous one, and I still favor the continuation of the bearish trend. I positioned short on Bitcoin at 58000-58500, targeting 57000-56000, and on Ethereum at 3180-3200, targeting 3100-3000. The previous article also emphasized the idea of continuing to look for the continuation of the bearish trend. I am optimistic that Bitcoin can reach 50000 in this bearish trend, while Ethereum is expected to reach the previous low of 2800. I personally think that Bitcoin has not yet fully retraced, and I expect it to test the resistance level in the future, and then continue to test the 52000-50000 support level. As for Ethereum, it is necessary to observe the support level at 2800. If it breaks, continue to look at the 2600-2400 support level.

Trading strategy: Continue to look for the continuation of the bearish trend and short on the rebound!

Short Bitcoin at 58500-59000, targeting 57500-56500, with a stop loss above 59500;

Short Ethereum at 3100-3130, targeting 3050-2950, with a stop loss above 3160;

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

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

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