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Tuesday Morning Bitcoin Strategy Update:
Disrupted by short-term fluctuations, long-term conviction will eventually pay off. Bitcoin reached a low of 70370 today and rallied to a high of 71080 this morning. Ethereum peaked at 2179 last night and oscillated down to a low of 2127 this morning.
From the current market perspective, on the daily timeframe, the previous downtrend remains incomplete, with the Bollinger Band upper rail still acting as a significant resistance level. Multiple previous attempts to break above have shown strong selling pressure. While this rally has some momentum, the upside space is relatively limited, and the sustainability of the bullish trend still needs further confirmation. Prices have entered a cyclical high zone, requiring vigilance against pullback risks triggered by overbought conditions. On the 4-hour level, the market has been closing with consecutive bullish candles, with short-term bulls in control. However, after prices touched the Bollinger Band upper rail, selling pressure became significant with no effective breakthrough yet. The Bollinger Band hasn't fully expanded, and the overall structure remains dominated by choppy strength, with upper rail resistance continuing to be effective. Short-term rallies are followed by pullback consolidation needs. Therefore, the morning strategy remains focused on shorting at highs.
Today's Early Morning Trading Suggestions:
Bitcoin short near 71500, target 69500
Ethereum short near 2160, target 2100
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