As expected, the market in the evening saw the price drop from around 95000, reaching a low of 92800. Subsequently, bulls began to quietly exert strength, quickly driving the price up by over 1000 points from the bottom. Our short positions laid out in the evening successfully took profit at around 93500, and currently the price has pulled back to around 93800.
From the one-hour Bitcoin price chart, the BOLL indicator shows that the price is below the middle band and the Bollinger Bands are opening, indicating a trend towards breaking the lower band, with bears in control; the KDJ indicator shows all three lines in the weak zone below 50, with the J value less than the K and D values, indicating bearish dominance; the MACD indicator shows the DIF line below the DEA line, and the histogram below the zero line is expanding, indicating enhanced bearish momentum. The price has significantly retraced from its high, with many large bearish candles and weak rebounds, indicating insufficient willingness for bulls to counterattack. Overall, the one-hour trend of Bitcoin is bearish, and it is likely to continue the downward trend.
Bitcoin strategy: short near 94300, target 93000
Ethereum strategy: short near 1780, target 1730
