On the daily level, Bitcoin has not changed much. Although it shows a steadily upward posture, it is under pressure and has fallen back after once again testing the resistance level of 94000. The resistance level is still valid. As mentioned before, if it breaks this level, it is expected to reach the 100000 mark; otherwise, it will continue to operate within the range. The short-term support is at 89000, and if it breaks, it will return to the bottom of the range at 84000. Ethereum is different, as it has previously shown an upward trend. After breaking the level of 3230, it encountered resistance at 3420 and fell back. If it breaks, it is expected to reach 3600, with support at 3170-3230. Overall, it is not in sync with Bitcoin. It was also mentioned yesterday that Bitcoin might catch up or Ethereum might fall back!
On the 4-hour level, Bitcoin just tested the top of the range structure at 94000 and encountered resistance, falling back again to the short-term support of 89000. Although Ethereum has already broken through the top of the range, it fell back after testing the pressure at 3450. If it breaks, it could go up to 3630, and the short-term pressure has returned to the level of 3230, with support at 3170-3120!
The pullback long positions set up yesterday for both Bitcoin and Ethereum have reached the target profit-taking levels. The current market is starting to correct, and it is recommended to continue shorting on rebounds!
Operation Ideas:
Short Bitcoin at 91000-91500, target 90000-89000, stop loss above 92500;
Short Ethereum at 3230-3260, target 3150-3100, stop loss above 3300;
The strategy is time-sensitive and should be guided in real-time privately!
