On the daily chart, after a sharp rise, the price faces resistance near the middle band and pulls back. Currently, the Bollinger Bands are narrowing, indicating a fierce battle between bulls and bears. On the four-hour chart, there was a brief breakout above the upper band followed by resistance and a pullback. The price is now trading between the middle and upper bands, showing a consolidation at a high level. If it cannot stabilize above the 70,000 level, it is likely to continue its downward trend. Watch for resistance near the upper levels to consider short positions. For Bitcoin, consider short positions around 69,500-69,000, targeting the 67,000-66,000 range. For Ethereum, consider short positions around 2,130-2,100, targeting the 1,950-1,900 range.
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Evening Strategy
On the daily chart, after a sharp rise, the price faces resistance near the middle band and pulls back. Currently, the Bollinger Bands are narrowing, indicating a fierce battle between bulls and bears. On the four-hour chart, there was a brief breakout above the upper band followed by resistance and a pullback. The price is now trading between the middle and upper bands, showing a consolidation at a high level. If it cannot stabilize above the 70,000 level, it is likely to continue its downward trend. Watch for resistance near the upper levels to consider short positions.
For Bitcoin, consider short positions around 69,500-69,000, targeting the 67,000-66,000 range.
For Ethereum, consider short positions around 2,130-2,100, targeting the 1,950-1,900 range.