4.1 Wednesday Morning: Latest Ideas and Analysis on Bitcoin and Ethereum
While others are still commuting during rush hours for a modest salary, you are already navigating the ups and downs of the futures market with ease. While others are waiting for the end-of-month paycheck, you are precisely capturing every moment of fluctuation, turning opportunities into substantial returns. Looking back at the early morning, Bitcoin rose from a low of 66,697 to a high of 68,558, then settled at the current level of 68,238. Ethereum closely followed Bitcoin's trend, rising from an early low of 2,050 to a high of 2,123, then settling near 2,100.
From the four-hour K-line overall structure, Bitcoin previously broke below the key upward trendline, officially entering a downward channel. The price has been weakly oscillating between the lower and middle bands of the channel, unable to break through the upper resistance, forming a classic bearish trend with decreasing highs and gradually lowering lows. Currently, Bitcoin is trading within a narrow range of 67,500-68,500, which is a typical consolidation pattern during a downtrend, not a sign of bottoming out. During the consolidation, multiple attempts to test the 68,000 resistance level ended with long upper shadows, indicating that the bulls have no capacity for a rebound, and selling pressure persists. If the price breaks below the lower boundary of 65,000, it will open the door to a new round of decline. So, Lao Lei's early morning strategy was to go short at a high level.
Morning Trading Ideas
Short around 68,500 for Bitcoin, target 66,500
Short around 2,110 for Ethereum, target 2,000