Li Ying Sees Signs of Stabilization in Bitcoin Price but Warns of Weak Momentum

Bitcoin (BTC) is currently trading at around $63,000, causing some nervousness but also anticipation. It's difficult to say whether this is a hard bottom or not, but there are signs of stabilization in the short term.

The technical indicators show a bearish alignment, with the price suppressed below the short-term moving averages and strong selling pressure above. The MACD indicator shows bear momentum weakening, and the price is near the lower Bollinger band at $62,660.

For Bitcoin, Li Ying recommends a short position between $64,000-$64,400 with a stop loss of 500 points and a target of $63,500 aiming for $63,000. On the other hand, he suggests going long between $62,500-$63,000 with a stop loss of 500 points and a target of $63,500 aiming for $64,000.

Ethereum (ETH) is currently trading at around $1,884, with Li Ying describing it as 'almost like a flatlining ECG.' The technical indicators show a weak mid-to-long-term trend and heavy resistance on any rebound. The Bollinger Bands are narrowing, indicating an impending breakout.

For Ethereum, Li Ying recommends a long position between $1,875-$1,860 with a stop loss at $1,840 and a target of $1,900 aiming for $1,920. He also suggests going short between $1,910-$1,915 with a stop loss at $1,930 and a target of $1,890 aiming for $1,870.