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Sleeping soundly when suddenly awakened by aicoin!!!
Market Analysis: Short-term rebound and correction, mainly follow the trend to go short
The main index has now broken out of the previous consolidation zone and established an overall downtrend. The recent rebound is a weak correction (dead cat bounce), and the core trading strategy should be to sell on rallies.
Bitcoin (BTC): Watch the key resistance zone
Market Analysis: The rebound triggered after touching the lower band of the 62,500 channel is an initial correction of a new downtrend, not a reversal.
Trading Strategy: Focus on the 0.5 - 0.618 Fibonacci retracement levels from the decline starting at 68,500, which is the 65,600 - 66,400 range. This is an ideal area to enter short positions (sell).
Targets and Stops: Short-term target is to break below 60,000; if the market strongly breaks through the first resistance, the upper limit resistance is around 68,500. Stop-loss for shorts can be placed at this high point or above 70,000.
Ethereum (ETH): More weak trend, prioritize short positions
Market Analysis: The trend is clearly weaker than Bitcoin, with the high points in the oscillating structure continuously moving lower, indicating diminishing bullish momentum. After breaking key support, a "top-bottom reversal" has formed, with heavy selling pressure above.
Trading Strategy: Currently, participating in ETH short trades offers better value. It is recommended to enter short positions when the price rebounds near the current resistance level.
Stop-loss placement: Set the stop-loss slightly above the previous high (above 2,000).