The overall market performance in the early morning remains weak, with the trend showing some oscillation and downward movement. Bitcoin rebounded to around 67,800 during the midnight session but faced resistance and pulled back. The market continued to oscillate downward, with the lowest dip around 66,200 before stabilizing. Currently, it has recovered slightly to around 66,700. As for Ethereum, the retracement was even more significant, with a rebound to around 2,080 yesterday evening before facing resistance and pulling back. The lowest point was around 2,010 in the early morning. Last night, we advised (during the live broadcast) to continue looking for further declines, with Bitcoin gaining 1,200 points and Ethereum gaining 50 points.
Although the daily chart still shows a recovery with a bullish candle, the overall price remains near the lower band, and intraday rebounds are also resisted by moving averages. The overall market is still in a weak structure, and the long upper shadows on the candles indicate that buying power is currently weak. Looking at the four-hour chart, after two consecutive doji candles and a rebound consolidation, there was a decline with a large bearish candle. Currently, the price is retracing around the midline, facing short-term resistance. However, the high points above are also moving lower, and the KD and fast line indicators show a death cross and a turn upward, indicating that the market sentiment remains cautious. The trading strategy should focus on shorting at higher levels.
Bitcoin can be shorted between 66,700 and 67,200, with a target around 65,000. Ethereum can be shorted between 2,030 and 2,060, with a target around 1,920. #BTC能否守住6.5万美元? $BTC $ETH