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Recent Market Update: Influenced by hawkish remarks from Federal Reserve officials, the cryptocurrency market has experienced significant volatility. Bitcoin's price dropped sharply from 113,600 to 109,100 before a slight rebound, indicating that the bears are currently in control. We previously advised followers not to blindly chase rising prices, and the market trend has confirmed this judgment.
Current Market Analysis: No clear rebound signals have appeared after the decline, and the short-term trend remains bearish. Traders are advised to follow the trend and avoid contrarian operations.
Bitcoin Trading Advice: Consider short orders within the 110,500 - 111,500 range, targeting around 108,500. If this support level is broken, further decline may occur.
Ether Trading Advice: Look for shorting opportunities in the 3,920 - 3,950 range, with targets around the 3,830 - 3,870 price zone.
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