The bulls and bears have already reversed, and the short-term traders are stopping trading?


The Bitcoin hourly chart is rebounding again, with both highs and lows continuously moving upward, even reaching new highs. Currently, there are signs of a trend reversal. The key is whether it can hold above the resistance level of 68126. As long as it stays above, it's time to shift thinking and avoid blindly shorting. The next target is a higher resistance at 69506.
Yesterday, it rose to 68126 and then pulled back because there were many short orders at that level. After the main force absorbed these short positions, a pullback was normal. Moreover, the price tested the support level around 66412 twice without falling below, and formed clear lows, indicating strong support at this level.
Currently, Bitcoin is fluctuating between 66505 and 68128. If it cannot hold above 68126 and returns to the range, as long as it does not break below 66750, there won't be a significant decline; once it breaks below 66750, it will look toward the support at 65521.
$BTC In terms of trading strategy, the US stock market is mainly cautious. Those wanting to open positions can try shorting lightly above 67820, targeting 67130. If the 4-hour chart breaks below 67137, watch the support at 66242-65525.
Resistance levels: 68128-68993-69532; support levels: 67250-66181-65757.
$ETH For Ethereum, resistance levels are 2073-2127-2157, support levels are 2046-2010-1979. If it breaks below 2020 on the 4-hour chart, watch 1981-1939; if it doesn't break above 2092, it won't rise further. A break below 2030 will lead to continued correction.
BTC-1,67%
ETH-1,48%
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