Currently, looking at the monthly level of the market, Bitcoin and Ethereum are continuously moving downwards. Although last month saw a halt in the decline with a bullish close, they still failed to recover lost ground. This month, as the Middle East war intensifies and the domestic stock market rallies, a large amount of capital has been withdrawn from the crypto market, so further declines are expected.

At the weekly level, both Bitcoin and Ethereum continue to maintain a downward trend channel. Bitcoin started a new round of decline without touching the previous resistance level of 68,000, while Ethereum's performance is even more dismal, failing to reach 2,750. Before the weekly close, pay attention to Bitcoin's Fibonacci 78.6% level at 61,375. If it can hold this level, the market may stay above 60,000, giving the bulls a glimmer of hope. If it cannot hold, Bitcoin is likely to move towards 51,500. For Ethereum, the Fibonacci 38.7% level at 2,425 is crucial; if it can hold, there is a possibility for the bulls to continue pushing. If it cannot hold, it is likely to move towards 1,800.

Looking at the daily level, Bitcoin's recent bullish move only reached the 66,000 level before starting to pull back. Currently, support is seen at 60,500, and resistance at 61,500. If it continues to decline, the first target is the 59,000-58,000 range. Ethereum's performance is relatively weak, with the bulls only reaching the 2,700 level before pulling back. Current support is at 2,330, and resistance at 2,420. If it continues to decline, the first target is the 2,300-2,200 range.

Looking at the 4-hour chart, both Bitcoin and Ethereum have confirmed resistance after a rebound from the decline. Subsequent operations are still recommended to focus on short positions!

Operational strategy: Short near resistance levels!

Short Bitcoin at 61,500-62,000, with a target of 60,500-59,500, and a stop loss above 62,500;

Short Ethereum at 2,390-2,410, with a target of 2,320-2,280, and a stop loss above 2,440;

The strategy is time-sensitive, and specific guidance will be provided in private real-time updates!

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 strategies!

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