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Wednesday Morning Jing Yi Trading Strategy Analysis
71400 is a key resistance zone; a breakout would signal a continuation of the bullish trend, otherwise, expect continued weak consolidation. Yesterday, the price tested this level twice and faced resistance each time, rising to 71700 before pulling back, confirming that the fake breakout was a valid resistance.
The daily chart shows a long upper shadow, with two consecutive bullish candles showing weak upward momentum, failing to break above the upper band resistance. The bullish momentum is insufficient, and today is likely to see a weak downward move. The key support below is 68400; a break below would end the bullish trend and could lead to further weakening. The short-term bullish and bearish boundary is at 71700; holding above this level could target 75000. The overall trend is bearish, and the market is not a one-sided move. Flexibility is needed for long and short position adjustments.
Trading Recommendations
BTC: Short in the 705-714 range, target 690-684. If it breaks below 68400, the bearish trend is confirmed; if it holds above 71700, consider readjusting the strategy.
ETH: Short in the 2060-2090 range, target 2000-1970.
The above is my personal opinion, for reference only.