2.27BTC/ETH Market Outlook:

After Bitcoin's deep V-shaped rally, yesterday's daily candle closed with a small bearish doji star. Today, the opening price is below the midline. The market retraced to a low of around 66462 yesterday and stopped falling. Currently, the price is around 67300. The market didn't drop sharply all at once; there is still some support below. The KDJ indicator is turning upward, RSI is flattening and slowing down, showing some downward signs. The MACD bullish momentum is still expanding. On the daily level, the midline resistance is quite obvious, followed by the upper band. The biggest issue now is the limited space below. So, will the market be pressured downward, or will it oscillate and recover at high levels, or continue to fake out and push higher to lure longs, then clear out leverage and drop again? Hard to say! The overall trend is clearly bearish, so the strategy is to short on rallies!

On the 4-hour chart, although all three Bollinger Bands are opening upward and rising, after the price found support at 62400 and sharply rose to 69999, it has been under pressure and trending downward step by step. It keeps making lower lows. The KDJ and RSI are turning downward, and MACD shows a bearish divergence, with bullish momentum continuously shrinking.

On the hourly chart, after dipping to around 66400 last night, there was a rebound, but it was met with resistance at the midline. All three Bollinger Bands are opening downward. The KDJ lines are converging to form a death cross downward, RSI is turning downward, and MACD bearish momentum is decreasing.

For intraday trading, resistance levels are at 70000 and 71000. Consider shorting near 70000 for a better risk-reward ratio, as it's less likely to get trapped. Support levels are at 76500 and 76000. Only if broken should you consider chasing shorts further down. Support levels are at 75000 and 74000.

For Ethereum, consider shorting around 2100, which offers a better risk-reward ratio, with strong resistance at 2150. Support is at 1950; only if broken should you consider chasing shorts. Further support levels are at 1880 and 1830.