The candlestick may lie, but your position management and stop-loss will never deceive you. When the market goes wild, first ask yourself if this is a planned opportunity or a moment of impulsive gambling? Stay calm, strictly enforce stop-loss, and profits will naturally follow. In the afternoon, big coin has indeed performed as we expected, making a strong downward probe near 107,300, with the price dropping to 105,500 now. The current positions we set in the afternoon also directly took profit, capturing nearly 1,800 points of movement. Ethereum has also synced down, but the intensity is not as strong as big coin. Currently, big coin has reached an important support level of 105,500.
From the current market situation, a trend of continuous downward probing has formed. If big coin breaks below 105,500 again, we can continue to look down to 103,800. However, if big coin stabilizes around 105,500, there will be a small rebound in the bullish direction, mainly focusing on how the US stock market opening will lead the price of cryptocurrencies. In the evening, we still favor the continuation of the bearish trend.
Big coin strategy: Short near 105,800-106,000, target 103,800
Ethereum strategy: Short near 2,550-2,570, target 2,500
