Tuesday, May 13, rebound correction, continue to hold in the evening

After yesterday's drop of five thousand points, the market has given a rise of three thousand points, and the market's trend remains quite strong. In the morning, I suggested shorting Bitcoin after a drop of 1200 points, and there were signs of a rebound. The short position is still being held. In relation to the current rebound, it is merely a correction after the drop, and the evening rebound is not expected to continue; it is all a bait for the longs.

From the daily chart, it is evident that the 105000 area is under significant pressure recently, with a drop of five thousand points in just one night, indicating strong pressure above. The previous continuous rise has consumed too much momentum, so for an effective breakthrough, there must be a pullback adjustment process. Currently, the strength of the rebound clearly cannot support a breakout, so more time is needed for adjustment. In the short term, I personally do not expect the market to break through on the rebound, so overall, I will continue to maintain a high short strategy.

On Tuesday evening, it is recommended to short Bitcoin at 104000-104200, targeting the 10200-100000 line.

On Tuesday evening, it is recommended to short Ethereum at 2520-2530, targeting the 2400-2300 line.