$BTC 6.9 Tuesday
Yesterday, the Ethereum trend once again verified the bearish thesis: the market remained under pressure, rebounds lacked any strength, and the high-level short positions successfully made profits. The overall large-cycle weak pattern has not changed—every time price spikes upward is an opportunity to short.
As for the current chart, the buying momentum during this rebound continues to fade, and the bulls are unable to launch an effective counterattack. The 1750 and 1800 levels that were previously broken have turned into strong resistance zones. Throughout the session, the bears controlled the market, and the primary downtrend remains unchanged. In the short term, today’s price action is likely to consolidate and trend lower. The 1710–1730 area forms a near-term resistance zone, and the upside room is extremely limited—do not chase longs blindly. After a modest consolidation and correction, the market will likely fall again.
Trading advice:
Short in batches at the 1700–1720 range; the first target is 1620. If it breaks below, then look for 1560.
$ETH $BTC # NVIDIA stock price fell more than 6%, and the semiconductor sector was dumped
Yesterday, the Ethereum trend once again verified the bearish thesis: the market remained under pressure, rebounds lacked any strength, and the high-level short positions successfully made profits. The overall large-cycle weak pattern has not changed—every time price spikes upward is an opportunity to short.
As for the current chart, the buying momentum during this rebound continues to fade, and the bulls are unable to launch an effective counterattack. The 1750 and 1800 levels that were previously broken have turned into strong resistance zones. Throughout the session, the bears controlled the market, and the primary downtrend remains unchanged. In the short term, today’s price action is likely to consolidate and trend lower. The 1710–1730 area forms a near-term resistance zone, and the upside room is extremely limited—do not chase longs blindly. After a modest consolidation and correction, the market will likely fall again.
Trading advice:
Short in batches at the 1700–1720 range; the first target is 1620. If it breaks below, then look for 1560.
$ETH $BTC # NVIDIA stock price fell more than 6%, and the semiconductor sector was dumped