Investment in the cryptocurrency world is a marathon, not a sprint. Please maintain sufficient patience and confidence, and wait quietly for the flowers to bloom. During the investment process, we may encounter various difficulties and challenges, but as long as we hold firm to our beliefs and continue to work hard, we will ultimately reap the success that belongs to us. On Wednesday afternoon, the Bitcoin market maintained a range-bound fluctuation, with the price slightly retracing to a low of 94442 before gradually rebounding, approaching the evening market where it rebounded to a high of 95176. Ethereum moved in sync with Bitcoin, with its market declining to a low of 1791 in the afternoon before rebounding, currently reaching a high of 1816.
Based on the current market situation, the four-hour level shows that the price is oscillating above the middle band of the Bollinger Bands, with the market experiencing a rapid decline followed by a swift rebound to recover lost ground, resulting in neither the bulls nor the bears achieving substantial breakthroughs. From the one-hour level, the market has gradually rebounded above the middle band of the Bollinger Bands, but it is evident that there is strong resistance above, and the bullish rebound has not broken through the previous high, indicating an overall expectation of a pressured retreat. Therefore, for evening operations, we will continue to maintain the strategy of shorting after a rebound.
Bitcoin can be shorted near 95500, targeting 93500.
Ethereum can be shorted near 1820, targeting 1760.
