On the journey in the cryptocurrency world, we may encounter storms and waves, but as long as the fire of our dreams in our hearts does not extinguish, it can illuminate the path ahead. Remember, every fluctuation is a test of will, and every perseverance is a tribute to our dreams. Yesterday at midnight, the Bitcoin market first continued to decline to a low point around 103,300 before stopping, and then began to rebound. The price rebounded to a high point around 105,288 before facing pressure again. Currently, the market has fallen back to around 104,300. Similarly, the Ethereum market saw the price drop to a low point around 2,455 before starting to rebound. The midnight market stopped after rebounding to a high point around 2,545 and then began to decline again.
Based on the current market situation, the four-hour level shows that after experiencing a series of three consecutive bearish candles, bulls have provided some rebound, but it is evident that the strength of the rebound is small and has not significantly affected the overall market trend. The overall trend is still dominated by bears. From the one-hour level, the market showed a rebound of three consecutive bullish candles, followed by an alternating pattern of bullish and bearish movements. The Bollinger Bands continue to open downward, and the MACD indicator's fast and slow lines continue to run below the zero axis. The indicator values remain in the negative range. Therefore, in the morning operation, we will still proceed with the idea of shorting after a rebound.
Bitcoin can be shorted around 105,000-105,500, targeting 102,500.
Ethereum can be shorted around 2,530, targeting 2,450.
