The afternoon market analysis shows that although earlier expectations favored long positions, the actual market is showing signs of weakness. It is worth noting that the earlier judgment regarding the "support level resilience" is still valid — when Bitcoin dipped, there was indeed a brief support around 107500, indicating that the support area has not completely failed, but the momentum for long positions is insufficient, and adjustments to the trading pace need to be made based on the latest trends.
The market is currently in a bearish correction phase; Ethereum is also weakening, with the previous momentum for recovery temporarily paused, testing the lower support level in conjunction with Bitcoin. The overall market is influenced by external conditions, with relatively high volatility in the short term, but the trend is not strong.
Trading Reference:
Bitcoin: It is recommended to consider short positions in the 108200-108500 range, with target levels of 107500-107000. If the price breaks through 108800, caution is required. Ethereum: It is recommended to consider short positions in the 2750-2760 range, with target levels of 2700-2680. If the price breaks through 2780, caution is required.
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The afternoon market analysis shows that although earlier expectations favored long positions, the actual market is showing signs of weakness. It is worth noting that the earlier judgment regarding the "support level resilience" is still valid — when Bitcoin dipped, there was indeed a brief support around 107500, indicating that the support area has not completely failed, but the momentum for long positions is insufficient, and adjustments to the trading pace need to be made based on the latest trends.
The market is currently in a bearish correction phase; Ethereum is also weakening, with the previous momentum for recovery temporarily paused, testing the lower support level in conjunction with Bitcoin. The overall market is influenced by external conditions, with relatively high volatility in the short term, but the trend is not strong.
Trading Reference:
Bitcoin: It is recommended to consider short positions in the 108200-108500 range, with target levels of 107500-107000. If the price breaks through 108800, caution is required.
Ethereum: It is recommended to consider short positions in the 2750-2760 range, with target levels of 2700-2680. If the price breaks through 2780, caution is required.