On Tuesday evening, the Bitcoin market continued to maintain a strong downward trend, with prices dropping from the high point of 107727 in the afternoon, reaching a low of 104068 in the evening. Throughout the day, the two short and one long positions in Bitcoin and the two short positions in Ethereum were all accurately captured. The short positions in Bitcoin and Ethereum, which were set up simultaneously in the morning, entered at around 107827 and 2589 respectively, and were advised to take profits near 106355 and 2537. The Bitcoin short position gained 1500 points, while the Ethereum short position gained 52 points. In the afternoon, a bullish rebound was captured, and the Bitcoin long position that was set up entered around 106627 and took profits near 107621, gaining 1000 points. Later in the afternoon, again, short positions in Bitcoin and Ethereum were set up simultaneously, entering around 106773 and 2586 respectively, and taking profits near 104235 and 2494 in the evening. The Bitcoin short position gained 2500 points, and the Ethereum short position gained 92 points. Overall, the two short and one long positions in Bitcoin gained a total of 5000 points, while the two short positions in Ethereum gained a total of 144 points.
Based on the current market situation, the four-hour level shows a clear bearish trend, with the market forming a three consecutive bearish candle pattern approaching the lower Bollinger Band. The rhythm has already entered a larger weak range, and the bulls have failed to create any waves. The lower space has been completely opened up, and the bearish trend is extremely strong. From the one-hour level, the market shows a very strong one-sided trend, with further downward movement, as the price has broken through the lower band. Therefore, blindly bottom-fishing at midnight is not a wise choice; one should follow the trend and align with the bearish trend.
Bitcoin can be shorted around 104000, targeting 102000.
Ethereum can be shorted around 2500, targeting 2400.
