On Tuesday early morning, BTC continued the bearish trend from the previous day. After ranging and drifting down from a high at around 62,965, the price briefly fell to a low at 61,806 and temporarily stopped the decline. Meanwhile, ETH also weakened and moved lower; after dropping to a low at 1,748, it saw a short-term correction. The high-short trading idea given the previous night was fully executed, and students who followed the setup can independently realize their swing-trading profits.

From the technical chart perspective, on the four-hour timeframe, after forming a tentative double-top structure around 64,691.9, the price turned downward. It effectively broke through the Bollinger Band middle-rail support at 63,566. The former long-side support has now flipped into a strong resistance zone. The Bollinger Band middle rail also turned downward, signaling the end of this round of the phase upward move. Profit-taking at the highs concentrated and exited in volume, and selling pressure kept releasing. In the future, every round of modest rebound will be suppressed by the middle rail again and will face pressure to drop.
The 63,300-63,600 area overhead is the key short-term bearish pressure band. Only the Bollinger Band lower rail around 62,080 provides temporary support. Once the bears build volume and break below this level, the downside room will be fully opened. In terms of execution, stick to the rebound-following-and-looking-short approach; absolutely do not blindly catch bottoms. For every entry, set a strict stop-loss and avoid the risks brought by short-term technical pullbacks.
BTC rebounds to around 63,000-63,500 and goes short, targeting 62,000-61,000 below.
ETH rebounds to around 1,810-1,840 and goes short, targeting 1,730-1,660 $BTC $ETH #伊朗宣布关闭霍尔木兹海峡