$BTC Bitcoin dropped significantly from 74130 starting from yesterday afternoon at 6 PM, and continued until the early morning of the 18th when it found support near 71060. The price has gradually stabilized, currently trading around 71070.
Bitcoin is currently maintaining narrow range consolidation on the 4-hour timeframe, with the price compressed near 71000. However, on the daily timeframe, after breaking below the previous short-term support zone, it continues to be pressured by short-cycle moving averages, maintaining narrow range oscillation with a bearish bias on the daily chart. On the hourly timeframe, short-cycle moving averages have begun to bend downward and diverge, maintaining a relatively weak trend structure. The movement is somewhat cautious, and our trading strategy remains to short at higher levels. In summary, follow the trend and trade short positions accordingly.
Bitcoin: Short near 71430, targets 70430~69930 Ethereum: Short near 2228, targets 2150~2170
$BTC Bitcoin dropped significantly from 74130 starting from yesterday afternoon at 6 PM, and continued until the early morning of the 18th when it found support near 71060. The price has gradually stabilized, currently trading around 71070.
Bitcoin is currently maintaining narrow range consolidation on the 4-hour timeframe, with the price compressed near 71000. However, on the daily timeframe, after breaking below the previous short-term support zone, it continues to be pressured by short-cycle moving averages, maintaining narrow range oscillation with a bearish bias on the daily chart. On the hourly timeframe, short-cycle moving averages have begun to bend downward and diverge, maintaining a relatively weak trend structure. The movement is somewhat cautious, and our trading strategy remains to short at higher levels. In summary, follow the trend and trade short positions accordingly.
Bitcoin: Short near 71430, targets 70430~69930
Ethereum: Short near 2228, targets 2150~2170