Reviewing the intraday market action, BTC mainly oscillated repeatedly within the 78,000–79,000 range. In the evening, bearish volume continued to increase, with the price stabilizing after touching around 77,200 at the low. ETH moved in tandem with BTC and is now hovering around 2,430 after rebounding. Today’s trading strategy mainly focused on buying the pullback to support. Overall, the market action basically met expectations, and the rhythm was handled perfectly. BTC gained over 1,600 points in total, while ETH offered 106 points of room. In this kind of market, as long as the rhythm is properly managed, whether shorting at highs or buying dips, following the trend can steadily put profits in your pocket, can’t it?
From the current market structure, BTC’s daily chart is currently in a high-level consolidation phase after posting strong gains last month. Although the moving averages remain bullishly aligned and the short-term moving averages continue to provide strong support, the MACD red bars are steadily contracting, indicating that bullish momentum has weakened significantly. On the four-hour chart, short-term bearish pressure is being released, but there are no signs of a deep sell-off. The price is currently repeatedly testing the middle Bollinger Band, with short-term support forming around 77,000 below. If this level is decisively broken, the price will further decline toward the 73,500 retracement level.
At midnight, BTC can be shorted in the 77,800–78,300 range, targeting around 76,000.
At midnight, ETH can be shorted in the 2,450–2,480 range, targeting around 2,380.#Gate用户突破6000万 $BTC $ETH