Midday Analysis


Bitcoin faced resistance and pulled back after an early surge, with the 80,000 integer level forming a strong resistance. The upper band of the Bollinger Bands turned downward simultaneously, and short-term rebound momentum is severely lacking, indicating that the bearish trend will continue to strengthen. The current weak market structure is established, and trading should rely on the strong resistance at 80,000; if the rebound is weak, it is advisable to follow the trend and establish short positions.
Trading Suggestions
Short positions can be established around 8,000-8,0500 near Bitcoin, with targets around 78,000-78,500.
Short positions can be established around 2,300-2,330 near Ethereum, with targets around 2,200.
BTC-1.69%
ETH-2.13%
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