Liying Chat Currency: 11.7 Bitcoin (BTC) and Ethereum (ETH) Latest Market Analysis
Dear family! The current price of Bitcoin is 75400, which just a few days ago was still very high, now it has dropped sharply to around 75638. Everyone, don't panic, and don't rush to bottom-fish. At this position, it is the front line where bulls and bears are fiercely clashing. If this level cannot hold, there may be lower positions ahead; but if it stabilizes, it will be an excellent opportunity to get in. The moving average system has deteriorated. The short-term EMA7 and mid-term EMA30 have both crossed below the long-term EMA120, forming a perfect bearish arrangement. The purple moving average is like a mountain pressing down, keeping the price firmly suppressed below, and the downward thrust of the MACD indicator is very strong, with major funds continuously flowing out. The lower boundary is currently around 73243, which serves as both a defensive line and a potential target for decline. The current price is running close to the lower boundary, indicating it is in a very weak range, facing a directional choice at any time.
Bearish Strategy
Entry: Rebound 75960-76120 Resistance
Stop Loss: Break 76500 Exit
Target: First look at 74000, if it breaks, look at 73243
Bullish Strategy
Entry: Stabilize near 73243
Stop Loss: Break below 72800 Stop Loss
Target: Short-term look at 74500, medium-term look at 76000
Ethereum
Dear family, the current price of Ethereum is 2220. The K-line chart just managed to stabilize a few days ago, finally giving everyone a glimmer of hope for a bull market, but today it directly gives you a big bearish stick. This is obviously the main fund's false breakout trap: first it gets pulled up to make you think the bull market has returned, and when you chase the rise, it turns back with a heavy blow. The price has now dropped back to 2220, and this sudden drop indicates that the bulls have completely collapsed, and market sentiment is extremely fearful. Don't mistakenly think this is a bottom-fishing opportunity; major funds may once again test lower levels! The EMA short-term bearish arrangement has fully formed and the MACD indicator's downward trend is still ongoing. The K-line has dropped below the middle track and is approaching the lower track, and the Bollinger Bands are opening downward, which is a typical signal of bulls being slaughtered and a one-sided decline.
Short Position Strategy: Short at 2250 during a rebound, set stop loss above 2290
Long Position Strategy: Do not chase long for now, wait for a drop to around 2130 and lightly hold for a rebound, set stop loss below 2090
Liying reminds: Before the trend reverses, watch more and act less, strictly implement stop loss!
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