The current market presents a typical characteristic of a volume-less rebound. The strength of the upward movement during the day is relatively weak, failing to effectively reach the $$BTC 64000-65000 area. In the context of insufficient volume, the sustainability and height of the rebound are questionable, and currently, the risk-reward ratio for betting on a bullish trend is not ideal.
From a technical structure perspective, the moving average system maintains a clear bearish arrangement. The short-term rebound is more inclined to correct the recent decline rather than signify a trend reversal. It is recommended to continue with a trend-following approach, considering adding short positions in the $64100-64500 range to seize opportunities after the rebound is hindered. In terms of risk control, $65700 is set as a defensive level that separates short and long positions in the short term. As long as the price cannot stabilize above $66000, the weak structure will not change. The downward targets to watch are $62500 and $61300, with a key focus on the $60000 level.
$60000 is the most critical dividing line between bulls and bears at present. If it can oscillate and consolidate above this position, there is a possibility of a corrective market; however, if it breaks down with volume, the trend may accelerate, and we need to be cautious of the risks brought by changes in market sentiment. At this stage, the safety of shorting in line with the trend is relatively higher. At night, Bitcoin can be shorted near $63800, targeting $62000, while Ethereum can be shorted near $1850, targeting $1750.
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From a technical structure perspective, the moving average system maintains a clear bearish arrangement. The short-term rebound is more inclined to correct the recent decline rather than signify a trend reversal. It is recommended to continue with a trend-following approach, considering adding short positions in the $64100-64500 range to seize opportunities after the rebound is hindered. In terms of risk control, $65700 is set as a defensive level that separates short and long positions in the short term. As long as the price cannot stabilize above $66000, the weak structure will not change. The downward targets to watch are $62500 and $61300, with a key focus on the $60000 level.
$60000 is the most critical dividing line between bulls and bears at present. If it can oscillate and consolidate above this position, there is a possibility of a corrective market; however, if it breaks down with volume, the trend may accelerate, and we need to be cautious of the risks brought by changes in market sentiment. At this stage, the safety of shorting in line with the trend is relatively higher. At night, Bitcoin can be shorted near $63800, targeting $62000, while Ethereum can be shorted near $1850, targeting $1750.
Tired of opaque investments? #Synbo uses the 'position proof' mechanism to ensure that every issuance is fair, transparent, and efficient!