The short-selling strategy given in the early hours of yesterday was perfectly validated. The price of Bitcoin briefly broke through the 96,000 resistance level twice but failed to form an effective breakout. The support below showed strong performance, followed by a quick rebound. The current price is maintaining a sideways oscillation around 97,100; therefore, the morning operations should still focus on the high short strategy.
Driven by market news, the market broke the original oscillation pattern, with both bulls and bears engaging in intense battles, leading to significant price fluctuations. Analyzing from the hourly candlestick chart, the price received effective support after falling back to the lower Bollinger Band, and subsequently, a rebound trend began. The overall operational idea remains unchanged; it is recommended to continue capturing high positions for short sales during rebounds, requiring precise handling of the high and low points of the range to avoid chasing highs and cutting losses. The current market volatility has narrowed, making it relatively difficult for prices to break down in the short term. Previous attempts at breaking down have been accompanied by quick rebounds recovering lost ground; therefore, the morning operations still focus on a bearish outlook, continuing the high short strategy.
Bitcoin can be shorted at 97,500-98,000, targeting around 95,500, while Ethereum can be shorted at 1,820-1,840, targeting around 1,750. #BTC $BTC
