Currently, looking at the daily level of the market, Bitcoin has failed to effectively break through after two attempts to reach a peak, resulting in a high-level consolidation. With the sharp decline in the U.S. stock market, the market has finally succumbed, and it has moved into the expected downtrend, breaking below the support level of 71,500. In the short term, we are watching the support situation around 70,500-70,800, while the resistance level is currently seen at 71,500-72,000 based on the conversion of tops and bottoms. Although Ethereum has followed Bitcoin for a rebound, the pressure level of 2,700-2,750 confirmed by the second peak remains valid, and after testing, it has fallen back again, breaking the support at 2,600. In the short term, we are looking at 2,550-2,500 for support, while the resistance level is seen at 2,600-2,620!

Looking at the 4-hour chart, both Bitcoin and Ethereum are in a downtrend after confirming the pressure from the second peak. Currently, we see a stop in the decline and a rebound. For evening operations, it is still recommended to continue shorting based on the new resistance level. The aggressive short position given in the morning has also successfully taken profit!

Trading strategy: Aggressive shorting!

Short Bitcoin at 71,400-71,800, with a target of 70,500-69,500, and a stop loss above 72,300;

Short Ethereum at 2,590-2,620, with a target of 2,550-2,500, and a stop loss above 2,650;

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

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 trading strategies!

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