Yueying: 2.1 Bitcoin and Ethereum Market Analysis Today - Will the Oversold Condition at the Monthly Close Present a Buying Opportunity?

The strategy for Bitcoin at 84200 was to short at 84500, and the price retraced to around 84500. As mentioned in yesterday's midday post, this position could be held. Looking at the daily chart, the price oversold, breaking below the 80000 level, with a dip to around 75500 followed by a rebound. Currently, the price is trading below the lower Bollinger Band, with the Bollinger Bands widening and short-term moving averages trending downwards. The MACD fast and slow lines are extending downwards, with the volume bars increasing again. The KDJ indicator has turned downwards again; watch for support above the zero line. The VR indicator is consolidating around 80. On the 4-hour chart, the price broke below the lower Bollinger Band with consecutive bearish candles, but has since recovered above it. The Bollinger Bands are trending downwards and showing signs of narrowing, with short-term moving averages trending downwards. The MACD fast and slow lines are trending downwards again with decreasing volume bars. The KDJ indicator has turned upwards, and the VR indicator is consolidating around 50. Overall, this oversold move is testing the lows near the beginning of last year. This area is currently a very strong support zone, and a period of range-bound trading is expected before a clear direction emerges. For short-term trading, watch the previous low area for support and the 81000 area for resistance. See short-term suggestions. Bitcoin short-term suggestions: Short at 80600, Long at 76800 (Take profits as needed). Ethereum's technical analysis is similar to Bitcoin's; it's oversold and testing the 2200 area before a rebound. The short-term strategy is consistent with Bitcoin, expecting a period of consolidation within a range. Watch the 2280 area for support and the 2600 area for resistance. See short-term suggestions. Ethereum short-term suggestions: Long at 2320, Short at 2530 (Click the image to see the homepage introduction for more cryptocurrency analysis). — I am Zhou Yueying, a teacher specializing in technical analysis. Feel free to discuss and learn with me about trading and trends! Let's exchange ideas and profit together!