Thursday Morning BTC/ETH Strategy
The Fed's first performance, Kashkari's overall comments lean hawkish, following a deep drop, we see a slight rebound at lower levels, with ETH showing stronger volatility. In the short term, after an oversold condition, we are witnessing a corrective rebound, but overall, we're still in a bearish trend. The MACD green bars are shortening, indicating a short-term repair signal after the oversell; this rebound is merely a technical bounce after a decline, not a reversal into a bull market.
First Support: 64380, the central point of the day's low rebound; if it breaks, the rebound fails.
Strong Support: 638, the key bottom in this round of decline; a valid breakdown will open up a new downward space.
First Resistance: 651
Second Resistance: 659
Intraday Strong Resistance: 663
Trading Advice
If BTC rebounds to 648-655 and doesn't break through, go short directly, targeting first at 643; if that breaks, look for 638-615. The daily timeframe remains bearish, and the risk-to-reward ratio for shorting on rebounds is much more favorable.
ETH Short-term Support: 1741
Strong Support: 1724; once broken, the rebound ends, and we see further weakness.
First Resistance: 1767
Second Resistance: 1792
Intraday Strong Resistance: 1809
Trading Advice
If ETH rebounds to 1765-1790 and faces resistance with stagnation, go short; first target is 1742, and if that breaks, look for 1724-1650.
The Fed's first performance, Kashkari's overall comments lean hawkish, following a deep drop, we see a slight rebound at lower levels, with ETH showing stronger volatility. In the short term, after an oversold condition, we are witnessing a corrective rebound, but overall, we're still in a bearish trend. The MACD green bars are shortening, indicating a short-term repair signal after the oversell; this rebound is merely a technical bounce after a decline, not a reversal into a bull market.
First Support: 64380, the central point of the day's low rebound; if it breaks, the rebound fails.
Strong Support: 638, the key bottom in this round of decline; a valid breakdown will open up a new downward space.
First Resistance: 651
Second Resistance: 659
Intraday Strong Resistance: 663
Trading Advice
If BTC rebounds to 648-655 and doesn't break through, go short directly, targeting first at 643; if that breaks, look for 638-615. The daily timeframe remains bearish, and the risk-to-reward ratio for shorting on rebounds is much more favorable.
ETH Short-term Support: 1741
Strong Support: 1724; once broken, the rebound ends, and we see further weakness.
First Resistance: 1767
Second Resistance: 1792
Intraday Strong Resistance: 1809
Trading Advice
If ETH rebounds to 1765-1790 and faces resistance with stagnation, go short; first target is 1742, and if that breaks, look for 1724-1650.