Good morning, dear investment friends!
The market dynamics are indeed full of uncertainties. After a continuous decline, the sudden upward movement not only broke the original market structure but also caused small losses to our previously placed short positions. However, this is the norm in trading. While going with the trend may bring substantial profits, it also comes with risks brought by market fluctuations. After achieving considerable gains from continuous short positions in the earlier phase, we should accept small losses with a calm mindset in the face of market changes and regard them as a small part of profit retracement.
Currently, Bitcoin's daily chart has turned bullish, indicating that bulls are beginning to gain a slight advantage. The price has been climbing and is currently fluctuating around 95000, having already touched the upper level of the four-hour downward channel. This is a classic market structure. In such cases, we usually adopt a strategy of maintaining the status quo and continue to view the market from the perspective of the downward channel. Only when the price successfully breaks above the horizontal resistance and stabilizes can we consider reversing to go long.
Based on the current market situation, our operational suggestions are as follows:
Bitcoin: Short at 95000-95500 with a target of 93500
Ethereum: Short at 1810-1840 with a target of 1750
