Currently, from the perspective of the monthly chart, both Bitcoin and Ethereum are showing a bearish trend. So, don't blindly say that Bitcoin will reach 70,000 and Ethereum 4,000. Even if there is a rate cut, it may not necessarily lead to an increase. From the daily chart perspective, Bitcoin is still under pressure at the 58,500-59,000 level, with support at 57,500-57,000. After multiple attempts by the bears, it finally broke through the 58,000 support level, forming short-term pressure. Similarly, Ethereum is under pressure at the 2,550-2,520 level, with support at 2,430-2,400. This support level is crucial. Whether the bearish trend can continue depends on the situation at this support level. If it is broken, it will approach the 2,000 mark. Looking at the 4-hour chart, both Bitcoin and Ethereum are in a phase of downward probing. It is recommended to trade cautiously and take advantage of short-term opportunities. Wait for the trend to emerge before acting accordingly. It is expected that there will be a rebound during the day session, and it can be further shorted in the future!

The strategy given in the early morning was to short Bitcoin at 58,000-58,500, with a target of 57,000-56,000, and to short Ethereum at 2,470-2,500, with a target of 2,430-2,380. Almost all the target levels were reached in the morning, and the short positions were closed at a steady profit!

Trading strategy: Short on the rebound!

Short Bitcoin at 58,000-58,500, with a target of 57,000-56,000, and a stop loss above 59,000;

Short Ethereum at 2,470-2,500, with a target of 2,430-2,380, and a stop loss above 2,520;

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 stay updated on real-time market analysis and trading strategies!

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