This early morning, the cryptocurrency prices rebounded again, reaching a high of around 69,500. Subsequently, the prices continued to correct and recover. The current retracement trend is still ongoing. I clearly indicated a bearish outlook last night. Our short position on Bitcoin, entered at 69,465, was again precisely profitable by 909 points at 68,556. Simultaneously, the Ethereum short position gained 50 points. Yesterday’s market movement was severely detached from technical indicators, and we made timely adjustments to quickly regain our footing. Losing in contracts is not scary; what’s scary is operating emotionally in succession. If you’ve experienced similar situations recently, follow Hao Yu’s lead to help you quickly get out of the current predicament. Looking at Bitcoin on the four-hour chart, the price quickly surged with consecutive bullish candles, testing the upper resistance of the upper band, then formed a medium-length bearish candle and rapidly corrected to restore the chart. The short-term trend of the four-hour K-line structure remains predominantly bearish. Yesterday’s strong rebound was more influenced by external factors. Once external stimuli are gradually digested by the market, a new wave of increased volume in the bears is inevitable. The outlook remains unchanged for a retracement. In the short-term hourly chart, the price continues to rise along the upper Bollinger Band, with consecutive bullish candles. As the US stock market closed smoothly, the price gradually entered a correction and recovery phase. After a significant rebound, the correction demand increases gradually. Additionally, the MACD histogram shows that the bullish momentum is continuously weakening, with the fast and slow MACD lines converging downward to form a golden cross. The short-term outlook during the daytime remains bearish, and short-term rebounds should be used for high-level short entries. For Bitcoin, short around 68,800, watch near 67,500. For Ethereum, short around 2020, focus near 1,940.

Good morning, currently hovering around 2000. From the market perspective, after being blocked during the overnight rally, it pulled back and has now broken below the short-term moving average, indicating that the short-term momentum has weakened. Although the medium-term moving average still provides some support, the upward strength is no longer sufficient, and indicators are also turning weaker. The short-term trend may continue downward. Bitcoin faces resistance around 68,800-69,300, and may test the 67,600-66,500 range later; Ethereum faces resistance around 2020-2045, and may test the 1970-1925 area later.

Symbol $BTC Price $68443.60 Market Cap $1.37T Open Interest $44.96B Funding Rate -0.0024% 24h Volume $81.26B 24h Liquidation $157.98M Price Change(1h) -0.0100% Price Change(24h) 2.5200% RSI (1h/4h/1d) 56.97/51.92/47.92 Fear Greed Index 7/100 #Altcoin Season Index 45/100 #crypto