Yue Ying: Bitcoin and Ethereum Market Analysis for Today - The Battle Between Bulls and Bears Is About to Ignite

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Bitcoin Technical Analysis ————
On the daily chart, Bitcoin's previous candle again tests a new low and closes with a pin. The opening session shows a slight rebound and consolidation. The Bollinger Bands remain wide open, with the short-term moving averages trending downward. The MACD fast and slow lines are extending downward, with the histogram shrinking. The KDJ indicator is turning upward again above the 0 level. The VR indicator is consolidating near the 80 level.
On the 4-hour chart, the market experienced a sharp drop in the early morning, breaking below the lower band, then recovered and was resisted around the 7-day moving average. The Bollinger Bands are narrowing and flat, with the short-term moving averages turning downward again. The MACD fast and slow lines have turned upward again, with the histogram expanding. The KDJ is crossing downward without extension, showing signs of flattening. The VR indicator is consolidating near the 60 level.
Overall, the current market remains weak, but the battle between bulls and bears is intense because it is at a critical support zone. There may be a quick drop to new lows followed by a rapid recovery. This area also acts as a bullish moat. Once broken, panic selling and sharp declines could occur again.
In the short term, watch for resistance around 79,000 and support around 74,000.
Short-term trading advice:
Bitcoin short-term suggestion: Short at 78,500, Long at 74,500 (activate strategy with profit, manage at your discretion)
Yitai Technical Analysis ————
Yitai broke a new low and tested around 2100, then rebounded but was again resisted below 2380. Overall technicals follow Bitcoin's trend for reference.
In the short term, focus on the 4-hour Bollinger Bands' upper and lower bounds for entry. There is no need to overly focus on bullish or bearish signals at the moment, as it is a support zone. After a decline, a correction is needed, and a strong rally won't happen immediately. Patience is key until a new direction emerges from the bulls and bears' battle.
Short-term trading advice:
Yitai short-term suggestion: Short at 2412, Long at 2188 (activate strategy with profit, manage at your discretion)
— I am Zhou Yue Ying, a teacher specializing in technical analysis. If anyone has questions about operations or trends, feel free to learn and exchange ideas with me! Let's share insights and profit together! #BTC #ETH