On Monday, the overall trend has not changed due to the weekly line switch. Maintaining our high-level shorting approach is still the right call.
As for near-term support levels, Bitcoin is around the $84,000 area, while Ethereum is around $2,670. If these two levels can be decisively broken on a closing (body) basis, the shorts will likely accelerate in volume; but if they keep failing to break, the daytime market may remain in a consolidation range.
For short positions you’ve already bought, your subsequent defensive focus should be on the two overhead support/resistance pressure levels at 85,000 / 2,720 (on a body basis). Once price is holding above them, consider exiting. As long as it doesn’t hold, the short-term bearish trend will not change, and the coin price may continue to test down toward $80,000 / $2,580.
As for near-term support levels, Bitcoin is around the $84,000 area, while Ethereum is around $2,670. If these two levels can be decisively broken on a closing (body) basis, the shorts will likely accelerate in volume; but if they keep failing to break, the daytime market may remain in a consolidation range.
For short positions you’ve already bought, your subsequent defensive focus should be on the two overhead support/resistance pressure levels at 85,000 / 2,720 (on a body basis). Once price is holding above them, consider exiting. As long as it doesn’t hold, the short-term bearish trend will not change, and the coin price may continue to test down toward $80,000 / $2,580.
