Market analysis and trading strategy

In terms of the market, the current resistance at 116,000 points has not been broken, and the daily chart shows a bearish trend. The bearish trend on the 4-hour and hourly charts has not yet stopped falling, while there is a demand for a rebound only on the 5-minute chart, but the rebound space is limited.

During the downtrend, the support level at 112,000 points needs to be closely monitored — this position is both a top-bottom reversal node and an ideal entry point for a second buy order. Buy orders can be placed here while setting a stop loss of around 500 points. Those holding short positions should pay attention to reducing positions and taking profits near 112,000 points; if this support level is broken, the targets below can be seen at 108,000 points and 105,000 points.

On the Ethereum front, the price has fallen below 3600 points, showing a weak performance at the daily level, and the bearish trend has not stopped at the 4-hour and hourly levels. A rebound has occurred at the 15-minute level, accompanied by a volume-price divergence. During the decline, attention should be paid to the support level around 3520 points, as this is a key point for the transition between bulls and bears, and can serve as a buying point for going long. A stop-loss is necessary if it falls below 3500 points.

At the 15-minute level rebound, 3600 points is a key resistance level. If it cannot break through, long positions should pay attention to reducing positions and taking profits; those who are trapped in long positions should also plan for stop losses. A short position can be attempted in the 3590-3600 point range, with a stop loss set at 3620 points. Those who have not entered the market can rely on small-level rebounds for positioning. If the 3500 point support fails, it may trigger a deep correction.

Personal trading reference: The spot level has been reduced to 30% of the position, and there has been a reduction in ETH, UNI, and Litecoin as well.