1. Bitcoin
After experiencing a severe downward shock in the Bitcoin market in the past few days, the price attempted to break through the key level of 57,000 but failed. Subsequently, it rebounded to the 58,800 area last night, encountered resistance again, and is currently stabilizing around 57,800. From the 4-hour chart, the market shows characteristics of a weak downward trend, lacking momentum for a rebound, and the downtrend has lasted a long time, with significantly increased volume over the past two trading days. This suggests that short-term trends may become more complex. On the 1-hour chart, the dual moving averages continue to act as resistance, indicating that the market is still in a weak correction phase in the short term. It is advisable to focus on short positions during rebounds and avoid prematurely determining the end of the trend. Considering that the 30-unit average line and the daily midline resistance are in the 60,000-60,500 range, this is an important resistance level for the week and also the starting point of the previous decline. The intraday strategy suggests maintaining a short-selling strategy during rebounds and promptly locking in profits from short positions after breaking lower.
For the evening operation of Bitcoin, I suggest investors look for shorting opportunities in the 58,300-58,600 range, with targets set around 57,000-56,500. At the same time, I recommend that those holding short positions at high levels continue to hold.
2. Ethereum
On the other hand, the Ethereum market surged to 2,515 points in the midnight hours before falling back, and is currently fluctuating around 2,410. On the 4-hour chart, Ethereum showed a weak downward trend yesterday. After failing to break through the 2,600 level over the weekend, it has been running weakly below this level and consolidating horizontally to gather momentum for a downward move. Currently, the 4-hour short-term moving average has turned downward to form resistance. On the 1-hour chart, Ethereum appeared weak yesterday, with consecutive bearish candlesticks and inadequate rebound strength, indicating the continuation of the market's downward trend. Although the downward speed has slowed somewhat, it is still below the downward trendlines overall. Therefore, it is advisable for investors to focus on short positions during rebounds.
For the evening operation of Ethereum, I suggest investors look for shorting opportunities in the 2,500-2,550 range, with targets set around 2,400-2,350. At the same time, I recommend that those holding short positions at high levels continue to hold.