Analyst Liang Qiu: 5.6 Bitcoin/Ether market analysis

Bitcoin/Ethereum has once again entered a narrow range of fluctuations. However, since the large coin broke below 95000 yesterday, it indeed started to face pressure and fall back from this position in the early morning. We will continue to pay attention to the 95000 line for short-term top-bottom conversion pressure. Currently, the daily structure shows a rounded downward trend, and the bears have not yet gained volume. This makes it difficult to expect the bulls to perform well. The previous bullish pullbacks were optimistic about the continuation pattern during the rise, but the sideways movement around 95000 and near 1800 has lasted nearly half a month. If the time drags on beyond expectations, the market may rise and then fall back. The previous multiple pullbacks have shown that the overall space is still decent.

Recently, the price has been fluctuating at a high level in the K-line pattern, forming multiple long upper and lower shadows, indicating a significant divergence between bulls and bears in the market. After a series of bearish candles on the daily chart, there was a rebound, but it failed to break through the previous high, suggesting that upward pressure still exists. In terms of technical indicators, the MACD is in the negative zone, and the fast and slow lines are diverging downwards, indicating possible continued adjustments in the short term. The trend change does not happen overnight, so it is essential to manage the waves carefully. There is still some expectation for an increase during the day session, with continued attention on the resistance levels at the early morning high of 95000 and the 1830 line.

Operationally, Liang Qiu suggests entering a short position on Bitcoin around 94700 to 95000, with a target near 93000; for Ether, enter a short position around 1820 to 1830, with a target near 1760.

Daily strategy analysis is limited, and the market is highly volatile, with specifics based on real-time.

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