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1.6 Tuesday Morning Market Analysis and Trading Recommendations
The overall market shows a pattern of rising and then pulling back. Bitcoin (大饼) continues its upward trend supported by the positive opening of US stocks, with prices reaching as high as the 94,686 level. Subsequently, the intense battle between bulls and bears triggered a technical correction; Ethereum's (以太) movement highly resonates with Bitcoin. After completing a rebound in the 3137-3260 range in the evening, it is now entering a phase of technical repair.
Based on market structure analysis, although Bitcoin's rebound momentum is strong, other mainstream cryptocurrencies are relatively weak. This divergence indicates that the overall market momentum may be entering a deceleration phase. Currently, Bitcoin's price is approaching the previous high resistance zone, and since this rally has not experienced a deep correction, the potential for further continuous upward movement is limited. The early trading strategy suggests mainly shorting on rallies.
Specific trading strategies are as follows:
Bitcoin (大饼): Consider short positions in the 94500-95000 range, with targets around 92000.
Ethereum (姨太): Consider short positions in the 3240-3260 range, with targets around 3130.