In the waves of the cryptocurrency world, every fluctuation of the K-line is a prelude to fate. You have witnessed the market's movement at three in the morning, experienced the heartbeat fluctuations of sharp rises and falls, and the dedication of late-night reviews, the wisdom of strategy adjustments, and the decisiveness of cutting losses—all sculpting your trading faith. Don't let temporary pullbacks wear down your will; the market always rewards those who are prepared. On Wednesday, Bitcoin's market gradually declined from the early morning high of 104949, stopping to rebound after hitting the low of 102815 in the afternoon. In the evening, the price rebounded to the high of 104319, only to be met with a strong downturn again, with the market hitting a low of 102773. Ethereum's market showed a downward trend, with prices sliding from the morning high of 2725 to a low of 2559 by evening.
According to the current market situation, the four-hour level indicates that the market is consolidating around the middle band of the Bollinger Bands. In the short term, neither the bulls nor the bears have broken out of a large range, but the KDJ indicator has formed a golden cross and is continuously diverging downwards, indicating that the overall trend is still unfolding around the bearish side. From the one-hour level, the market experienced a large bearish drop followed by a certain rebound, but the Bollinger Bands are opening downwards, and the middle band is continuously moving down, with indicators at this level giving strong reversal signals. Therefore, the current rebound is merely a normal correction in the downward process, so we will maintain a high short strategy after the rebound in our evening operations.
Bitcoin can be shorted around 103800-104000 with a target of 102000.
Ethereum can be shorted around 2600-2620 with a target of 2520.
