Yue Ying: 2.2 Bitcoin and Ethereum Market Analysis Today Continues Weakness to New Lows, Support Remains Valid for Rebound and Adjustment

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Bitcoin Technical Analysis ————

Bitcoin daily chart shows continued decline over the weekend, with a slight rebound after testing new lows at the open today. Currently trading below the lower band, the Bollinger Bands are opening, with short-term moving averages trending downward. The MACD fast and slow lines are extending downward, with increasing histogram bars. The KDJ is crossing downward, watch for support near the 0 level. The VR indicator is consolidating around 70.

On the 4-hour chart, after yesterday’s oversold rebound, the price did not break above the 7-day moving average but was suppressed and retreated again, forming a pin bar. The Bollinger Bands are moving downward, with short-term moving averages aligned downward. The MACD fast and slow lines are extending downward with a potential turning point, and the histogram bars are shrinking. The KDJ is crossing upward, and the VR indicator is consolidating around 35.

Overall, although still in a weak state, the indicator feedback suggests that it’s too early to be overly bearish or to chase short positions. It’s advisable to wait for resistance levels before shorting, especially since the current area is also a previous support zone. Short-term focus on the previous low support, with resistance around 80000, followed by 82000. Short-term trading suggestions.

Bitcoin Short-term Trading Advice: Short at 79600 (short at 82000), Long at 75600 (activate strategy if profitable and manage positions yourself)

Auntie Tech Analysis ————

Auntie’s technical outlook is linked to Bitcoin’s reference. In the short term, focus on resistance around 2500, both above and below. Support levels are at 2080-2150. If this support breaks, the 2000 level will be at great risk; otherwise, it’s a short-term pause or rebound for adjustment. Short-term trading suggestions.

Auntie Short-term Trading Advice: Short at 2430 (short at 2530), Long at 2200 (activate strategy if profitable and manage positions yourself)

— I am Zhou Yue Ying, a teacher focused on technical analysis. If anyone has questions about operations or trends, feel free to communicate and learn with me! Let’s share and profit together! #BTC #ETH