Wednesday afternoon, latest thoughts on Bitcoin and Ethereum



From the current trend, Bitcoin dipped to 756 last night, Ethereum to 2256, and today the Asian session saw a rebound and correction. Currently, Bitcoin is at 775, Ethereum at 2342, facing resistance again. Overall recent trend shows that although the battle between bulls and bears is fierce, the range structure has never changed, so the current rebound after a decline is just a normal market movement.

The momentum of the short-term rebound is gradually weakening. At present, the four-hour chart shows resistance at the midline, indicating insufficient rebound energy. The downward space is not yet finished, so in the afternoon, continue to hold short positions on rebounds.

Bitcoin reference: around 773-778 for phased short positions, targeting 755-745
Ethereum reference: around 2340-2350 for short positions, targeting 2280-2258
BTC1.57%
ETH2.87%
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