Yesterday at midnight, the Bitcoin market showed a trend of initially declining and then rising. The price first strongly dipped to around the low point of 98115 and then stopped, followed by a rebound in a fluctuating manner. In the early morning, the market reached a high point of around 100885.
Ethereum similarly saw the market drop to a low of around 2111 at midnight before starting to rebound, with the price reaching a high of around 2235 in the early morning.
From the current market perspective, the four-hour level shows that after experiencing a round of downward movement, the bulls are making a rebound, and the price has warmed back above the lower Bollinger Band. However, the overall market is still maintaining a downward channel, and the MACD indicator's dual lines continue to operate below the 0 axis, not providing any significant reversal signals. Therefore, the current rebound is merely a normal technical adjustment, and the overall trend remains weak. From the one-hour level, the market gradually rebounded to the middle track of the Bollinger Band before stopping, with the middle track of the Bollinger Band exerting strong resistance. The continuation of the bullish rebound is not strong, so in the morning operations, we will adopt a high short strategy after the rebound.
Bitcoin can be shorted near 101500, targeting 99000.
Ethereum can be shorted near 2250, targeting 2150.
