On the daily level, Bitcoin has shown a decline but has not broken new lows, testing the support level of 108,000-106,000, which remains effective. The short-term resistance is still at the 109,500-110,500 range. A breakout above 110,500 or a drop below 106,000 will open up more movement space. Ethereum on the daily level is similar, showing a decline but failing to break down and continue the bearish trend. After testing the support level of 3,750, it remains effective, with short-term resistance at 3,880-3,980. Similarly, a breakout above 4,270 or a drop below 3,750 will open up more movement space.
Looking at the 4-hour level, Bitcoin only retraced to the 107,500 level before starting to consolidate. This is a test of the previous low followed by a rebound adjustment, proving that the support is also strong. The subsequent rebound is expected to see a test of resistance near 110,500 again. Ethereum formed a downward pin bar on the 4-hour chart, with resistance at 3,880-3,900. A breakout above will continue to target 3,980-4,080, and in the short term, it will still maintain a range-bound movement.
Yesterday, the Bitcoin and Ethereum positions set up during the day have successfully followed the expected downward trend! The current market is at the bottom of the range, and it may be a good opportunity to try going long at low levels!
Aggressive short-term trading ideas:
Go long on Bitcoin at 108,000-108,500, targeting 109,500-110,500, with a stop loss below 107,000;
Go long on Ethereum at 3,800-3,830, targeting 3,880-3,980, with a stop loss below 3,750;
The strategy is time-sensitive, please refer to the main page for details, and prioritize private real-time guidance!
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 ideas!
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