On Wednesday afternoon, the Bitcoin market displayed a pattern of initially declining and then rising, with the price dipping from a high point of 103949 to a low point of around 102815 before stopping, and then gradually rebounding, reaching a maximum of 104109. Ethereum, on the other hand, maintained its downward trend from the morning, with the price dropping from a midday high of around 2687 to a low of around 2577. Sheng has repeatedly provided bearish insights, which have proven accurate; the Bitcoin short position was entered around 103915 and exited near 102930, yielding a profit of 1000 points. In the afternoon, another short position on Ethereum was set up, entering around 2674 and exiting near 2584, achieving a profit of 90 points. As I lead my students towards success, I always uphold a sincere and pragmatic attitude. However, when I see them reaping the rewards of our joint efforts, the joy and pride in my heart inevitably overflow. There are no shortcuts to success, but there are methods to follow. As long as you closely follow Sheng's steps and diligently cultivate, you will eventually welcome a season of harvest.
Based on the current market situation, the four-hour level shows that after experiencing two consecutive bearish candles, the bulls have provided a corresponding rebound, but it is evident that the rebound strength is weak. The MACD indicator values have also been continuously accumulating in the negative range, so the current rebound has not broken the overall downward pattern. From the one-hour level, the market shows a three consecutive bullish rebound, with prices close to the middle band of the Bollinger Bands. The KDJ indicator's J value has entered the oversold area, and coupled with the bulls' rebound not providing a certain level of continuity, we will still maintain a high short strategy after the rebound in the evening.
Bitcoin can be shorted near 104500 with a target of 103000.
Ethereum can be shorted near 2650 with a target of 2580.
