Follow and stay tuned for substantial gains. Hello everyone, I am analyst Gu Jingci. Here, I share my insights, hoping that every friend who keeps up can achieve impressive returns!
Bitcoin/Ethereum followed the short position strategy once again yesterday evening, with prices dropping all the way down to around 78,600 and 2,430 respectively; the price movements are clearly visible. The market has experienced some recovery and a rebound, but the strength is not significant, and resistance above remains apparent. On the 4-hour chart, after a large bearish candlestick last night, the market is now consolidating with small-bodied candlesticks and extremely low trading volumes, indicating that short-term downward momentum is fading and the market is entering a period of consolidation or hesitation. On the daily chart, the large bearish candlestick has almost engulfed the previous large bullish candlestick, forming a bearish engulfing pattern, which suggests a possible short-term trend reversal.
On the technical indicators, the DIF and DEA lines remain above the zero axis, but the DIF line is edging down and nearing the DEA line. The MACD histogram continues to shrink, showing waning bullish momentum and a short-term risk of a bearish crossover. After the decline at the four-hour level, the rebound has been weak, forming a continuation of the downtrend. Currently, the market is hovering near the MA moving averages, with the 2,470 to 2,480 and 80,000 round number levels still presenting obvious resistance above.
Trading advice: Continue to enter short positions in Bitcoin around 79,600 to 80,000, with a target near 77,000 to 78,000; continue to enter short positions in Ethereum around 2,460 to 2,480, targeting 2,350 to 2,400.
