The daily chart shows that Bitcoin has dipped below the 60,000 level and entered a consolidation and correction phase. The market is generally trading within the 71,000-63,000 range, forming a new structural pattern. After a secondary double bottom the day before yesterday, support remains effective, and a rebound has occurred. Currently, it is trading below 70,000, with resistance at 70,000-71,000 and support at 68,000-66,000-63,000. Ethereum's daily chart trend is synchronized with Bitcoin, having entered a consolidation phase after dropping near 1,700, forming a new similar structure between 2,150-1,800. A secondary dip has led to a rebound. Currently, resistance is at 2,100-2,150-2,230, with support at 2,000-1,900-1,800.
On the 4-hour chart, Bitcoin and Ethereum's oversold correction and recovery ranges are clearer. Bitcoin ranges from 71,500-62,500, and Ethereum from 2,150-1,800. The market has experienced a second test of support after a dip, and is very close to resistance levels. Therefore, the subsequent strategy is to short at high levels, and wait for a breakout of the range before entering further positions!
Trading ideas:
Short Bitcoin at 68,500-69,000, targeting 67,500-66,000, with a stop-loss above 70,000;
Short Ethereum at 2,070-2,090, targeting 2,000-1,950, with a stop-loss above 2,150;
Strategies are time-sensitive; specific guidance will be provided privately in real-time!
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