ETH and BTC are about to end their sideways trend, is it worth seizing the opportunity tonight?

Blockchain Blaze · 2023-06-13T08:15:05.000Z

The daily level trend of the market seems to have exceeded the pressure level of 26,000 points. Whether it can effectively stabilize will need to wait until the news comes out tonight before the next direction can be truly determined. From the 4-hour level, the box oscillation is gradually upward, but the pressure at point B, the first target of the three-point pattern in the early stage, is very obvious. Although the MACD has bottomed out here and the rebound time period is relatively long, the uncertainty of the news will be certain. To what extent it affects the short-term trend of the pie. On the 1-hour chart, the area between 26,000 and 26,200 continues to form a "double top", which further illustrates that the pressure above is very high. Judging from the 15-minute structure, 26,000 to 26,200 points have clearly formed a short-term top area.

Judging from the daily trend of Bitcoin, it has broken through the pressure level of 26,000 points. Whether it can stabilize effectively will require us to wait for the news to be released tonight before we can truly determine the next direction.
From the 4-hour level, the box oscillates gradually upward, but the pressure point B of the first three-point target in the early stage is very obvious. Although the MACD here has bottomed out and the rebound time period is relatively long, the uncertainty of the news will affect the short-term trend of the cake to a certain extent.
On the 1-hour chart, the area between 26000 and 26200 continues to form a "double top", which further shows that the pressure from above is very large. From the 15-minute structure, the area between 26000 and 26200 points has clearly formed a short-term top area.
Therefore, from a strategic point of view, shorting on rallies is relatively cost-effective at present. As conservative investors, you can patiently wait for the evening news to be released and then choose a direction before taking action.
Ethereum's recent trend is obviously weak, with heavy pressure in the 1750 to 1760 range. Continuous rebounds have failed to break through and the rebound strength in the bottom area at the daily level is so weak, which also indirectly shows that Ethereum's trend is indeed weakening.
From the 4-hour structure, the center of gravity of the box area has not moved up significantly, and it is still in a volatile trend, and the pressure of the upper area of ​​1760 is clearly visible.
From the 1-hour chart, every time it rebounds to around 1760, a "double top" will appear, which further shows that the pressure on the upper edge of this box area is huge. The 15-minute structure has already crossed and is actually at the upper edge of the box area.
Therefore, from a strategic point of view, it is still more appropriate to short Ethereum in key pressure areas such as 1760.