Yueying: Bitcoin and Ethereum Market Analysis (June 25-26) - New Lows Expected, Will There Be Further Lows? Short-Term Strategy Included
Bitcoin's daily chart shows a break below the lower Bollinger Band at 60,000 followed by a rebound, but the intraday opening continued the downward trend, breaking below the lower Bollinger Band again to reach a new low. The Bollinger Bands are widening, short-term moving averages are trending downwards, the MACD fast and slow lines are converging downwards with decreasing volume, the KDJ is trending downwards, watch for support around the 0 level, and the VR indicator is consolidating around the 30 level. The four-hour chart shows a downward oscillation, with rebounds followed by sharp drops. Although there has been a rebound recently, further downward movement should be anticipated. The Bollinger Bands are widening downwards, short-term moving averages are trending downwards, the MACD fast and slow lines are turning downwards with increasing green volume, the KDJ is turning downwards again, watch for resistance around the 50 level, and the VR indicator is consolidating around the 50 level. Overall, the market continues its weak downward trend, breaking below 60,000 and the previous low. Given the larger timeframes, we're in a bear market, so don't try to guess the absolute bottom. It's pointless to try and predict the top in a bull market or the bottom in a bear market. Patiently wait for the cycle and technical structure to complete. Focus on intraday fluctuations. Currently, there's a new low followed by a rebound. For short-term long positions, there are two strategies: a false breakout and a true breakout. For a false breakout, use the current low as a guide. For a true breakout, wait for support around 56,600. Resistance is around 62,000. Enter positions based on support and resistance levels. Bitcoin short-term: Aggressive traders can go long at the current price of 58,750, or short at 58,000 (or 57,100, or 56,300). Short at 61,500. Ethereum's daily and four-hour technical charts can be used as a reference for Bitcoin. Initially, consider support around 1500, with a potential break below 1400. Resistance is around 1680. Short-term trading strategy for cryptocurrencies: Aggressive traders can buy at the current price of 1545, with a bargain at 1495 (buy at 1450, with a bargain at 1400), and short at 1630. (For more cryptocurrency analysis, click on the image to see the homepage profile and find Yueying to discuss further.) — I am Zhou Yueying