Thursday early morning Bitcoin and Ethereum market analysis and intraday summary

On Wednesday, the overall trend of Bitcoin and Ethereum showed a pattern of rising first and then falling, characterized by volatility. Bitcoin consolidated around the 102,500-103,600 range in the morning, then stabilized and moved higher near 103,000 in the afternoon, reaching a high of around 105,000 before facing resistance and pulling back, entering a high-level consolidation phase. Subsequently, the market gradually weakened, with the lowest retreat to 101,323 in the early morning. Ethereum's movement was synchronized with Bitcoin, maintaining range-bound oscillation in the morning, then rising from a low of 3424 in the afternoon, reaching a key resistance at 3588 before stalling and pulling back. Currently, the lowest price has dipped to around 3371.

Trading-wise, Lao Tian continued the high-selling strategy for the day, leading students to deploy two short positions on Bitcoin along with one long position, accumulating over 2383 points of profit; similarly, Ethereum followed the high-selling approach, gaining over 209 points.

On the daily chart, Bitcoin failed to effectively break through the previous high near 106,000 when approaching 105,000, and the MACD indicator showed a bearish divergence above the zero line, with red momentum bars continuously shrinking, indicating that upward momentum is gradually weakening. After prices broke below the key support at 102,000 in the early morning, short-term moving averages began to turn downward, forming an initial bearish alignment, suggesting a correction phase. Regarding indicators, RSI dropped from overbought levels above 70 to below 50, moving away from the overbought zone and gradually shifting toward a neutral to weak area, reflecting weakening bullish strength. The KDJ formed a death cross at high levels and continued downward, now approaching 30, indicating short-term further downside potential, but also noting the possibility of a rebound after oversold conditions.

Overall, Bitcoin's short-term structure is weak. Lao Tian recommends mainly focusing on shorting during rebounds.

Operational suggestions:
Monitor Bitcoin around the 102,000-102,300 resistance zone, consider deploying partial short positions targeting 100,000.
For Ethereum, consider short entries when it rebounds to the 3450-3480 range, with a target near 3350.