The current market trend is clear, still leaning towards weakness overall. The bulls lack sufficient momentum to push higher. To change the current situation, a breakout of the current weak zone is necessary. After repeated attempts at support and resistance on the 4-hour chart, the price has entered a consolidation phase, using time to gain space for recovery. This is a typical market correction pattern. Even if there is a slight short-term rebound, overhead resistance remains heavy. Once it reaches key resistance zones, it is likely to face downward pressure and pull back. Therefore, it is advisable to continue shorting in the morning trend.
Morning Bitcoin trading strategy: Short directly around 69,000-69,800, with a target near 66,500. Ethereum trading strategy: Short directly around 2000-2050, with a target near 1900.
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3.4 Bitcoin Morning Analysis
The current market trend is clear, still leaning towards weakness overall. The bulls lack sufficient momentum to push higher. To change the current situation, a breakout of the current weak zone is necessary. After repeated attempts at support and resistance on the 4-hour chart, the price has entered a consolidation phase, using time to gain space for recovery. This is a typical market correction pattern. Even if there is a slight short-term rebound, overhead resistance remains heavy. Once it reaches key resistance zones, it is likely to face downward pressure and pull back. Therefore, it is advisable to continue shorting in the morning trend.
Morning Bitcoin trading strategy: Short directly around 69,000-69,800, with a target near 66,500. Ethereum trading strategy: Short directly around 2000-2050, with a target near 1900.