In the cryptocurrency world, failure is merely a stepping stone to success. Every fall is meant to help you stand up better; every setback is a solid step toward success. Keep going until you turn your setbacks into a badge of honor. On Saturday, Bitcoin's market showed a fluctuating downward trend, rebounding after hitting a low of 95853 in the evening. Ethereum experienced a similar trend, dropping to a low of 1816 in the afternoon before stopping and gradually rebounding, reaching a high of 1839 in the evening. The Bitcoin and Ethereum short positions that Brother Sheng laid out earlier in the day performed as expected. The Bitcoin short position was entered at 97737 and exited around 96745, yielding a profit of 1000 points. The Ethereum short position was entered near 1855 and exited at 1824, gaining 31 points.
Based on the current market situation, the four-hour level shows that after a series of downward moves, the bulls provided a rebound when reaching the middle band of the Bollinger Bands, but the strength of the rebound is not very strong. The price is currently in a tug-of-war between the bulls and bears. From the one-hour level, the market rebounded to the middle band of the Bollinger Bands before falling again. The MACD indicator shows a continuous accumulation of bearish momentum, so in the absence of a sustained rebound from the bulls, we can maintain a high short strategy after the rebound at midnight.
Short Bitcoin around 96500, targeting 95000.
Short Ethereum around 1840, targeting 1750.
