5.14 No. 3 Wide Oscillation, Rebound High Point Continues

Recently, the price of Bitcoin has formed a clear wide oscillation, with the strong resistance at 105000 being tested multiple times without breaking. In the early morning, it faced pressure again in this area and pulled back, reaching a low of around 102800 in the afternoon before rebounding. It is currently back in the 103900 area. This morning, it was suggested to short Bitcoin and look for a range between 102000-101000, and the market provided a drop of about 1200 points, with fluctuations of over a thousand points back and forth, with neither bulls nor bears showing much continuation. If it cannot effectively break upwards in the evening, the high short strategy should remain unchanged.

From the current short-term 4-hour rhythm, the price has formed a wide oscillation pattern since reaching a high, with neither bulls nor bears showing continuation, and a box-like fluctuation in the larger cycle. This is also a common correction process after a one-sided move. The strong resistance at 105000 has not continued after the spike broke, and the market fell back again. Meanwhile, the support at 101000 is quite evident in the short term, forming a clear box structure. Once the structure is confirmed, it is necessary to strictly execute according to the high and low points of the range, rather than participating blindly, as the right rhythm is different from a one-sided move, and reversals can happen at any time.

On Wednesday evening, it is recommended to short Bitcoin in the 104500-15000 area, targeting the 102000-101000 range.

On Wednesday evening, it is recommended to short Ethereum in the 2650-2680 area, targeting the 2550-2400 range.