Currently, the Bitcoin market has seen a certain degree of rebound compared to the early morning, which is a normal rebound phenomenon after a major trend emerges. The Bitcoin price has encountered resistance after hitting a certain level and rebounded, needing to consolidate and gather strength for a certain period to prepare for the next impact before it can break through more effectively, and the same applies to Ethereum. In the morning layout, we exited at the stop-loss point, and have since remained in a wait-and-see state. In uncertain market conditions, blindly following the trend will only lead you into an abyss.
From the daily chart perspective, the price has broken the lower Bollinger Band, and the three bands are in a parallel state, indicating that this significant pullback has not yet ended; the bears just need to consolidate and gather strength for a while. From the hourly level, the Bollinger Bands are forming a closing trend, indicating that the bearish strength has not been eliminated yet. In the afternoon layout, we will still adopt a high sell low buy strategy to enter short positions. (Note the defense point)
Short around Bitcoin 103500 Target 101000
Short around Ethereum 2490 Target 2350
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