As expected by Yun Che, the evening cryptocurrency price surged to 103,500, after which the price began to rapidly decline. This pullback was also within our expectations. Currently, our short position has nearly gained a thousand points in space, while Ethereum has dropped by nearly 50 points. Our evening strategy has been thoroughly validated; I wonder if any friends have followed along. Choosing the right people can save you a lot of detours, and currently, the price has retraced to around 102,500.
From the hourly level, the Bollinger Bands are narrowing, and the price is close to the middle line. If it cannot stand firm above the middle line, breaking below may bring it closer to the lower line; the KDJ three lines are in the weak zone below 50, with the J value in the oversold range and the three lines diverging downwards, indicating heavy selling pressure and weak bulls, with bears dominating; in the MACD, the DIF line is below the DEA line and the distance is widening, with the histogram line under the zero axis lengthening, showing that bearish momentum continues to strengthen. Overall, Bitcoin has a significant downside risk, and we need to pay attention to whether it can break through the key resistance level to reverse the situation.
Bitcoin strategy: around 103,000-106,000, target 101,000
Ethereum strategy: short around 2,230-2,210, target 2,250
