Don't be afraid of failure, because failure is the stepping stone to success. In the cryptocurrency world, no one can have a smooth journey; each fall is to rise better. When you learn from failure and temper your will through setbacks, you will find that you have become more resilient and mature. On Wednesday, Bitcoin's price experienced a pullback in the morning, dropping from a high of 104949 in the early hours to a low of 103409. Ethereum's price synchronized with Bitcoin, falling from a high of 2738 in the early hours to a low of 2622 before stopping. This morning, Brother Sheng provided a bearish outlook, and the market moved as expected. The Ethereum short position was entered around 2697 and exited around 2637, capturing a space of 60 points.
According to the current market situation, the four-hour level shows the market has experienced two consecutive bearish candles before moving to the middle band of the Bollinger Bands. The KDJ indicator's three lines have turned downward and extended, while the MACD indicator values are also in the negative range, indicating that bearish momentum is continuing to diverge. From the one-hour level, after experiencing two consecutive bullish rebounds, the middle band of the Bollinger Bands is providing strong resistance, and the price is entering another pullback. The KDJ indicator's three lines are all at low levels and showing signs of convergence, while the MACD histogram continues to stay below the 0 axis and gradually lengthens, indicating that bearish strength is gradually increasing. Therefore, in the afternoon, we will maintain a high short strategy after the rebound.
Bitcoin can be shorted near 104000, targeting 102500.
Ethereum can be shorted near 2680-2700, targeting 2620.
