Market Review
As of now, the price of Bitcoin is $100,750, down 4% from the previous day. After breaking through the $100,000 mark, Bitcoin reached a high of $104,361 but has since pulled back. The current price has found temporary support at $101,000, and if it falls below this level, it may drop below the psychological barrier of $100,000; the key resistance level above is $106,500, and if broken, it is expected to push Bitcoin into a sustained upward trajectory.
Ethereum's price hovers around $2,640. On Monday, Ethereum's price re-tested and found support near its 200-day Exponential Moving Average (EMA) at approximately $2,436, subsequently rising 7.38% the next day. Currently, if the 200-day EMA at $2,436 can continue to hold as support, the upward momentum may continue, and it may re-test the key psychological level of $3,000; if faced with a pullback, the area near the 200-day EMA will also be an important support level.
Technical Indicators
The Relative Strength Index (RSI) on the daily chart is at 78, above the overbought level of 70, indicating strong bullish momentum but also suggesting a higher likelihood of a pullback. However, there is also the possibility that the RSI remains above the overbought level of 70 and continues its upward trend.
Trading Suggestions
Bitcoin: Short near $104,000 with a target of $103,000
Ethereum: Short near $2,630 with a target of $2,580
There are many types of investments; choosing the right one for yourself is important. There are many paths, and selecting the right guide is crucial. I am Gu Yue, interpreting global economic news, analyzing major global investment trends, providing daily market trend analysis, and offering you the latest trading strategy ideas, along with professional investment consulting services, to help you reach the peak of financial management.
#比特币
As of now, the price of Bitcoin is $100,750, down 4% from the previous day. After breaking through the $100,000 mark, Bitcoin reached a high of $104,361 but has since pulled back. The current price has found temporary support at $101,000, and if it falls below this level, it may drop below the psychological barrier of $100,000; the key resistance level above is $106,500, and if broken, it is expected to push Bitcoin into a sustained upward trajectory.
Ethereum's price hovers around $2,640. On Monday, Ethereum's price re-tested and found support near its 200-day Exponential Moving Average (EMA) at approximately $2,436, subsequently rising 7.38% the next day. Currently, if the 200-day EMA at $2,436 can continue to hold as support, the upward momentum may continue, and it may re-test the key psychological level of $3,000; if faced with a pullback, the area near the 200-day EMA will also be an important support level.
Technical Indicators
The Relative Strength Index (RSI) on the daily chart is at 78, above the overbought level of 70, indicating strong bullish momentum but also suggesting a higher likelihood of a pullback. However, there is also the possibility that the RSI remains above the overbought level of 70 and continues its upward trend.
Trading Suggestions
Bitcoin: Short near $104,000 with a target of $103,000
Ethereum: Short near $2,630 with a target of $2,580
There are many types of investments; choosing the right one for yourself is important. There are many paths, and selecting the right guide is crucial. I am Gu Yue, interpreting global economic news, analyzing major global investment trends, providing daily market trend analysis, and offering you the latest trading strategy ideas, along with professional investment consulting services, to help you reach the peak of financial management.
#比特币