Market fluctuations are the norm, losing control of emotions is the real enemy! Stay calm, act according to the plan, do not rejoice in wild surges, and do not panic in sharp declines. True champions always move steadily at their own pace. Yesterday at midnight, Bitcoin's market displayed a fluctuating upward trend, with prices first dipping to a low point around 104607 before stopping, then starting to rise, reaching a morning high of around 106141. Ethereum's market followed a similar pattern, first dropping to a low point around 2513 before rebounding, with the market reaching a morning high of around 2586.
From the current market perspective, the four-hour level shows that after a slight rebound, the bulls and bears are in a tug-of-war phase, but the Bollinger Bands maintain a downward opening trend. The MACD indicator formed a death cross at a high level and continues to extend downward, with the histogram gradually enlarging below the zero axis, indicating that the overall trend still leans toward bearish. From the one-hour level, the market showed a four consecutive bullish candle rebound to the upper Bollinger Band before starting to retrace. The upper Bollinger Band provides strong resistance, and the KDJ indicator's K and J values began to turn downward after entering the overbought zone, indicating that the downward trend has begun, and the bears are starting to gain strength. Therefore, in the morning operations, we can proceed with a short position strategy.
Short Bitcoin around 106000-106500, target at 103500
Short Ethereum around 2600, target at 2500.