$BTC $ETH Brother Ye briefly reviews the intraday trend of major coins

Yesterday, when the U.S. stock market opened, it was still relatively weak, which dragged major coins straight down. The reason for the drop was also very simple: BlackRock sold 11,300 BTC, causing market panic to grow stronger and stronger. The long-position chips used for bottom-fishing have already become less. For intraday operations, the strategy still mainly focuses on shorting from high levels.

Last night, Bitcoin surged downward all the way to 58,030, then rebounded to around 59,500 and began to range. In the morning, the market rebounded upward to around 60,300, then started to face pressure and fall back. Ethereum also remained weak: it rebounded to 1,582 and then came under pressure and pulled back. For Bitcoin, the first resistance level above is 60,500–61,000, and the support below is 59,000.

According to the hourly chart, the current overall downtrend is dominated by bears: the rebounds are with low volume, and the highs keep getting lower. As long as the price cannot break through 61,000 with volume, the market will continue to face pressure and move downward. During the day, it will most likely test the 59,000 support level. Once it effectively breaks below, it will again retest the low below 58,030.

Trading suggestions:

Second coin (two cakes): Short in the 1,585–1,560 range; watch support at 1,500 below.

Bitcoin (big cake): Short around 60,800–60,300; watch support at 58,000. Once it effectively breaks below, you will continue to see 57,000.

If you don’t understand market trend analysis, feel free to come ask Brother Ye for consultation!! #美光市值超越Meta跻身全美前十 #BTC下探60000美元关键关口