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Ethereum, from the daily chart perspective, experienced a deep decline to around 1503, then was fully released, and began a corrective rebound. Currently, it is just stuck near the middle band. On the four-hour chart, the price has already moved below the middle band, the Bollinger Bands are starting to narrow, the MACD remains in a bearish green histogram, and the fast and slow lines are crossing downward. Meanwhile, in the short term, the one-hour chart shows a high point gradually moving lower within a downward channel. The bullish momentum is slowly weakening. For intraday trading, go for short positions at the high.
Recommend short entries around 1760-1770, targeting 1730-1710.
Bitcoin is currently in a weak rebound after a sharp decline, not a bullish reversal. Additionally, the four-hour chart shows a standard double top reversal channel. After the rebound and second attempt to push higher, it lacked strength, and the high points are clearly lower than the previous highs, which is a typical double top with gradually decreasing highs. The one-hour high points are also continuously decreasing, with the Bollinger Bands opening downward, indicating a weak market. Shorting on rallies is advisable.
Recommend short entries around 64700-65200, targeting 63700-63000.
Market changes rapidly; strategies are for reference only. Use proper stop-loss and take-profit orders.