Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
#以太坊大户持仓变化 BTC and ETH Mid-Day Technical Analysis
From the 4-hour chart, BTC is currently in a clear downtrend cycle. Short-term momentum is waning, and many investors have noticed that the price is approaching the key support level at 89588.1. The bearish engulfing pattern on the candlestick chart is quite obvious, and the short-term moving averages are also sloping downward—these details collectively signal a bearish outlook.
Interestingly, the price still remains above the long-term moving average. This indicates that the medium-term upward trend has not fully reversed. In other words, there is still a technical basis for a rebound.
Considering the current trend direction and the resistance zone between 89630.8 and 90364.2, shorting at higher levels is a more aligned strategy. This approach has a higher probability of success.
**Mid-Day Trading Strategy**:
- Consider short positions around 90800-91300 for BTC, targeting the 89500-89000 range
- Consider short positions around 3140-3160 for ETH, targeting the 3080-3030 range
If the price indeed breaks below the support in the short term, that will confirm the trend. Conversely, if it rebounds back above the moving averages, a more cautious approach should be taken to observe the next moves.