10.1 Morning Analysis
Last night, Bitcoin surged and met resistance. After pushing up to a high near 85,600, the price faced pressure and pulled back. It is currently hovering around 83,500. This attempt to break higher failed to hold the upper high. The bulls lack momentum, and sell pressure has been released in a concentrated manner. In the short term, the market has entered a pullback phase. Next, focus on whether support around 83,000 can hold. If support breaks, the price may test lower levels further; if support remains effective, it is highly likely to return to range-bound trading, with 85,600 becoming an important near-term resistance level.
Ethereum ("two-piece" ) Last night, it probed the 2,738 high, but the bullish push failed to continue. Profit-taking was concentrated and the price dropped quickly. During the session, it fell to a low around 2,667, and it has since rebounded to around 2,685. This high-to-low reversal forms a short-term pressure pattern, making 2,738 a key near-term resistance. On the downside, watch support at the 2,667 low. If that level holds, the market will likely maintain range-bound behavior; once it breaks, the room for the pullback will open further.
4-hour timeframe:
The 4-hour candle closed as a bearish (yin) line. The KDJ indicator has turned and formed a death cross, releasing a downside signal. The pullback trend still has room to continue. On the hourly chart, two consecutive bearish candles appeared. After the decline, the rebound attempt has been weak, showing insufficient bullish follow-through. From the Bollinger Band perspective, price has retraced to around the middle band. On the hourly timeframe, KDJ aligns with a death cross pointing downward, and bears remain in control. At this stage, prioritize viewing rallies as being under pressure. Do not rush to bottom-pick at lower levels. Every time the market rebounds and pushes higher, it can be used as an opportunity to set up short positions. Make sure to place stop-loss orders to control risk.
Short-term trading recommendations:
BTC ("big cake"): Sell/short 84,500–85,500. Targets: 82,500–82,000.
ETH ("two-piece"): Sell/short 2,720–2,740. Targets: 2,650–2,630
Last night, Bitcoin surged and met resistance. After pushing up to a high near 85,600, the price faced pressure and pulled back. It is currently hovering around 83,500. This attempt to break higher failed to hold the upper high. The bulls lack momentum, and sell pressure has been released in a concentrated manner. In the short term, the market has entered a pullback phase. Next, focus on whether support around 83,000 can hold. If support breaks, the price may test lower levels further; if support remains effective, it is highly likely to return to range-bound trading, with 85,600 becoming an important near-term resistance level.
Ethereum ("two-piece" ) Last night, it probed the 2,738 high, but the bullish push failed to continue. Profit-taking was concentrated and the price dropped quickly. During the session, it fell to a low around 2,667, and it has since rebounded to around 2,685. This high-to-low reversal forms a short-term pressure pattern, making 2,738 a key near-term resistance. On the downside, watch support at the 2,667 low. If that level holds, the market will likely maintain range-bound behavior; once it breaks, the room for the pullback will open further.
4-hour timeframe:
The 4-hour candle closed as a bearish (yin) line. The KDJ indicator has turned and formed a death cross, releasing a downside signal. The pullback trend still has room to continue. On the hourly chart, two consecutive bearish candles appeared. After the decline, the rebound attempt has been weak, showing insufficient bullish follow-through. From the Bollinger Band perspective, price has retraced to around the middle band. On the hourly timeframe, KDJ aligns with a death cross pointing downward, and bears remain in control. At this stage, prioritize viewing rallies as being under pressure. Do not rush to bottom-pick at lower levels. Every time the market rebounds and pushes higher, it can be used as an opportunity to set up short positions. Make sure to place stop-loss orders to control risk.
Short-term trading recommendations:
BTC ("big cake"): Sell/short 84,500–85,500. Targets: 82,500–82,000.
ETH ("two-piece"): Sell/short 2,720–2,740. Targets: 2,650–2,630
