Recently, the Crypto Assets market has shown some signals worth following. Bitcoin has maintained a pump trend, but other Digital Money has performed weakly, and this discordant trend has raised the alert of market participants.
From a technical perspective, the movement on the four-hour chart of Bitcoin has broken the previously continuous rise trend, which may indicate that a correction could be facing in the short term. Meanwhile, the performance of Ethereum (commonly known as "二饼") and other altcoins has also been unsatisfactory, showing a sideways or slight decline trend. This phenomenon of divergence has historically often been a precursor to a market reversal.
For those cautious traders, now might be the time to consider establishing short positions. If the Bitcoin price approaches the key resistance level of around $108,000, it could trigger a rapid rise, followed by a potential significant correction.
Based on the current market conditions, around $107,500 may be an ideal entry point for shorting. A short-term target price to watch could be $104,000; if market sentiment worsens further, there is even a possibility of a drop to $95,000. As for Ethereum, its weak pattern continues, and the short positions established around $2,430 can still be held.
However, investors must remember that the Crypto Assets market is highly volatile and carries significant risks. Before making any investment decisions, one should thoroughly assess their own risk tolerance and conduct a comprehensive analysis considering multiple factors.
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Recently, the Crypto Assets market has shown some signals worth following. Bitcoin has maintained a pump trend, but other Digital Money has performed weakly, and this discordant trend has raised the alert of market participants.
From a technical perspective, the movement on the four-hour chart of Bitcoin has broken the previously continuous rise trend, which may indicate that a correction could be facing in the short term. Meanwhile, the performance of Ethereum (commonly known as "二饼") and other altcoins has also been unsatisfactory, showing a sideways or slight decline trend. This phenomenon of divergence has historically often been a precursor to a market reversal.
For those cautious traders, now might be the time to consider establishing short positions. If the Bitcoin price approaches the key resistance level of around $108,000, it could trigger a rapid rise, followed by a potential significant correction.
Based on the current market conditions, around $107,500 may be an ideal entry point for shorting. A short-term target price to watch could be $104,000; if market sentiment worsens further, there is even a possibility of a drop to $95,000. As for Ethereum, its weak pattern continues, and the short positions established around $2,430 can still be held.
However, investors must remember that the Crypto Assets market is highly volatile and carries significant risks. Before making any investment decisions, one should thoroughly assess their own risk tolerance and conduct a comprehensive analysis considering multiple factors.