Wednesday's Latest Bitcoin and Altcoin Strategies

Currently, after a brief corrective rebound, the market has resumed its downward pressure. The bulls' attempt to rally is weak; if it cannot stabilize above 88,000, the current bearish dominance will persist.

From the four-hour chart, a weak downtrend with three consecutive bearish candles has formed. Although the mid-line support remains solid, temporarily halting the downward momentum, the bearish trend is very strong, and each small rebound provides a good opportunity for bears to add to their positions.

On the one-hour chart, selling pressure continues to be released, with candles repeatedly testing the lower support zone. The downward momentum remains robust. The current decline towards the 85,000 level is gradually playing out, and future trading should focus on this.

The key level for Bitcoin is around 88,000; resistance is near 90,000, and support is near 85,000.

For altcoins, the key level is around 3,000; resistance is near 3,100, and support is near 2,800.

Personal opinion, for entertainment only, not investment advice!

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