Analysis of Morning Thoughts on Bitcoin and Ethereum
You can short Bitcoin in the range of 93000-92300, targeting a drop near 91500-90800 and if it breaks below 91000, it will continue to decline. If it does not break below, consider going long instead.
The thought process for Ethereum is in line with Bitcoin, where you can short in the range of 3350-3310, targeting around 3280-3250.
The daily chart shows a series of consecutive bullish candles, and the volume-price relationship highlights strong bullish momentum. However, after a pullback on the hourly chart, the rebound momentum is weakening. The Bollinger Bands are expanding at a high level, and the price is deviating too far from the middle band, indicating strong demand for a return. Additionally, the KDJ indicator is severely overbought, with profit-taking pressure building up, increasing the adjustment pressure. Future operations should shift in line with the trend, exercising caution when shorting, and seizing quality entry points during rebounds for timely positioning.
