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Market Review:
Today, Bitcoin surged higher but faced resistance at 78,180, then turned around and fell back, breaking below the middle and upper bands of the 15-minute chart support level, moving downward all the way. The lowest point was 76,696. After a brief bottoming out, it slightly rebounded to recover. The short-term trend is dominated by bears, with downward momentum still being released. Overall, it surged and then fell back within the day, with the upward movement being blocked. The bullish strategy given in the morning was effective; buying near 76,800 with a target of 78,300, and the market also validated my idea in the morning. The afternoon outlook was mistaken, but I corrected it in time, allowing followers to still profit from the short side.
Technical Analysis:
On the four-hour chart, the short-term has fallen from the high point and is currently running close to the middle band of the Bollinger Bands, and is below it. If it can effectively break below, the downside space will be further opened. Recent highs and lows are both decreasing, forming a very clear sloping channel, with a potential resistance around 77,900. If the price cannot re-establish above the middle band, the rebound strength will be weak. The trading volume is also lower than during the decline; declining volume on the way down and shrinking volume on the rebound are typical bear market features.
New Strategy:
Short near 77,500 for Bitcoin, target the previous low of 76,014.
Short near 2,140 for Ethereum, target around 2,090.
Today, Bitcoin surged higher but faced resistance at 78,180, then turned around and fell back. It broke below the upper and middle bands of the 15-minute chart support, moving downward. The lowest point was 76,696. After a brief bottoming out, it slightly rebounded and recovered. The short-term trend is dominated by bears, with downward momentum still releasing. Overall, it rose and then fell back within the day, with the upward movement being blocked. The bullish strategy given in the morning was effective; buying near 76,800 with a target of 78,300 proved correct, and the market also validated my idea in the morning. The afternoon strategy was mistaken, but I corrected it in time, allowing followers to still profit from the short side.
Technical Analysis:
On the four-hour chart, the short-term has fallen from the high point and is currently running close to the middle band of the Bollinger Bands, and is below it. If it can effectively break below, the downside space will open further. Recent highs and lows are both decreasing, forming a very clear sloping channel, with a potential resistance around 77,900. If the price cannot re-establish above the middle band, the rebound will be weak. The trading volume is also lower than during the decline; declining volume with shrinking rebound volume is a typical bearish feature.
New Strategy:
Short around 77,500 for Bitcoin, target the previous low of 76,014.
Short around 2,140 for Ethereum, target around 2,090.