5.7 Bitcoin Ethereum morning latest strategy

On Wednesday morning, a brand new day has arrived. Yesterday, the price of Bitcoin stopped its decline after retracing to the 93300 level. During the overnight period, its price bounced back and even surged to the 95800 level in the morning. The strength of this rebound slightly exceeded our expectations. We usually recommend shorting when the price rebounds to high levels, anticipating a drop back to the 92800 level. However, the market did not continue to decline as expected; instead, it entered a range-bound oscillation. From the daily chart, the candlesticks have formed small bullish lines for several consecutive days, supported strongly by the midline, and the bearish forces have not been able to form an effective continuation, indicating that the support below remains quite solid. Meanwhile, on the 4-hour level chart, the BOLL indicator shows signs of flattening, with the upper and lower bands ranging between 96500 and 93000. In the short term, if the price cannot break through, it is likely to oscillate within this range, forming a new oscillation zone.

Considering that the current coin price is at the upper end of the range, we still recommend that investors try to enter short positions unless the market forms a new breakthrough and stabilizes. Otherwise, to avoid missing out, it is best to avoid chasing prices at high levels. Recently, major institutions have frequently stepped in to buy, and this method of driving up prices to sell is already a common occurrence in the market. Short-term bullish transitions often lead to losses; only after a deep sell-off can there be a significant rebound opportunity. Currently, it may only take a reason and an opportunity to trigger a sell-off. Therefore, in terms of short-term operations, we still recommend that investors position themselves with the mindset of shorting on rebounds.

The current price of Bitcoin is defending against shorts above 96800, while the focus below is around 93000. If it pulls back and stops, re-enter for a short position to look for a rebound. As for Ether, there hasn't been much change; the resistance around the 1830-1850 area still exists. This morning, the strategy continues to reference this area for short positions first, while the focus below remains on the 1700-1730 area.

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