The cryptocurrency market is full of opportunities and challenges. We need to maintain a clear mind at all times to avoid being influenced by short-term market fluctuations. It is inevitable to encounter some setbacks in the crypto space. Remember that every difficulty we face is a stepping stone towards success. We must learn to view problems with a long-term perspective; without taking small steps, we cannot reach great distances. The road to success is destined to be winding and long!
Feiran's Cryptocurrency Analysis 8.5 (Written at 07:30) BTC Market Analysis and Trading Suggestions:
In the early session, Bitcoin rebounded to correct last night's decline. When the price approached 114,000, it failed to hold, and the K-line turned down for a pullback adjustment. On the daily level, Bitcoin closed with a small bearish candle, recovering yesterday's long lower shadow. The MACD indicator shows no significant contraction, with a short-term tendency to turn down. Today, we need to pay attention to the strength of Bitcoin's rebound. The 4-hour chart has initially formed a rounded top pattern. If the bulls do not increase their volume during the day, it is likely to trend weakly. Watch if the 114,000 level can hold; if the rebound is weak, look to test the bottom support.
BTC Trading Suggestions:
It is recommended to short near the rebound at 114,000-114,200, with a target of 113,000-112,000. If it breaks down, continue to look lower, with a stop loss at 114,500.
Ethereum tested the support at 3,550 in the early morning. The price has stabilized around 3,580 after a drop. In the short term, Ethereum is under pressure both up and down, and there may be signs of sideways movement during the day. From a technical perspective, both the daily and 4-hour charts show a trend towards bearishness. Daytime sideways movement will undoubtedly increase market anxiety. The morning strategy is to look for a short on the rebound, and after the bottom stabilizes, consider whether to go long.
ETH Trading Suggestions:
It is recommended to short in batches at the rebound of 3,600-3,620, with a target of 3,520-3,450. If it breaks down, continue to reduce positions and look lower, with a stop loss at 3,650.
The strategies in this article may have a delay and are for reference only. Please view them rationally, and you bear the risks of profits and losses!
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