The dual struggle of technology and news, the real game of profit and risk, are normal phenomena that trigger contradictions in the financial market. Sometimes, seemingly unreasonable range movements may be the basis for profit expansion, while at other times, clear technical and news support may be a precursor to risk. Therefore, it is understandable that there is no 100% certainty in the trading process. Although the market operates daily with ups and downs, it cannot experience significant fluctuations every day, as both bulls and bears need time to brew their strategies. Thus, one should not subjectively perceive the market; a mature and sound trading mindset is always practical.

Hello everyone, I am trader Gege. Continuing from the last article, I have already detailed the technical aspects and future trend predictions for Bitcoin. Currently, it is still within expectations. Today, I will discuss how to specifically operate following the short-term trading ideas. Bitcoin is currently testing the previously mentioned 85,000 level, and it seems likely to break down. Once a breakdown is confirmed, the rebound will be declared over, and the market will likely revisit the lows.

I will provide the support levels below. In the short term, you can buy based on support, but do not hold onto positions for too long; take profits quickly, as the rebound is over and the short-term trend is downward. First, there is support at the 83,500-83,000 level, followed by 81,200-80,800, and the final strong support is above the low at the 78,000-77,000 level. There is also an extreme scenario: if it breaks below the 76,000 level, what will happen? My prediction is that such a scenario will likely be a false breakdown, leading to a sharp rebound, with a potential spike down to the 74,000-73,000 level before a quick recovery.

The above ideas are for bulls to reference. How should bears operate? The trend line has already been broken, so use the trend line as a boundary, corresponding to a price around 87,000. As long as the rebound does not break and stabilize above this level, you can short below it. From the current market situation, first reference the 85,000-85,600 level, followed by 86,300-86,800. If the above support levels are broken, treat them as resistance for shorting. Although the market is currently weak and shows signs of further decline, I do not recommend chasing; those in need can refer to the above positions for buying and shorting Bitcoin.

Ethereum has now returned to the previous range, so in the short term, continue to reference the range for entry. The upper resistance is around 1,920-1,950, and the lower support is around 1,850-1,820. Short-term updates for Ethereum will be sent in real-time. If a new low occurs, the next major support will be at the 1,500 level. That’s all for today’s article. There may not be updates over the weekend. A friendly reminder: with the end of the month approaching, market fluctuations will be significant, so be sure to plan and manage risks well.

The suggestions are for reference only. Ensure proper risk control when entering the market, and manage your profit and stop-loss spaces accordingly. Specific strategies should be consulted in real-time.

Alright, friends, we will see you next time. I wish everyone success in their trading endeavors and smooth sailing in the crypto world! More real-time advice will be sent internally. Today’s brief update ends here. For more real-time advice on Bitcoin and Ethereum, find Gege.

Written by/ I am trader Gege, a friend willing to help you rise again.

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