4.9 Wednesday Afternoon Bitcoin Latest Market Analysis and Trading Suggestions
This morning, our short position strategy successfully reached expectations, with the actual market hitting a high of 76444 before starting to retreat. Currently, it is fluctuating around 75600, and we still have a downward expectation this afternoon, maintaining a high short strategy while waiting for the right opportunity.
The 4-hour chart shows the Bollinger Bands' lower track opening up, while the middle track pressing down creates resistance. This has become a strong and weak dividing point for today's short-term market; below 76500, we expect further declines. The 1-hour chart shows a small step-down channel in a wave of consolidation. Since the market did not strongly reclaim lost ground at the end of the session, closing at a low, it is highly likely that today will continue to decline.
Trading Suggestions:
Bitcoin rebound to the 76500-77000 area, target around 74000.
Ethereum rebound to the 1450-1480 area, target around 1350.
