$BTC Don't persist in the wrong choice because of 'sunk cost'; opportunities in the crypto world are always there. In a bull market, change cars; in a bear market, change tires—different cycles require different strategies. Cutting losses is to survive; holding on might lead to zero. Stop-loss is not admitting defeat, but rather to enter better next time. The most expensive tuition in the crypto world: from 'diamond hands' to 'zero party'. The market on Saturday and Sunday still remains strong for Ethereum, overall showing a pattern of pulling back and building momentum before entering a strong upward trend. After a pullback to the 3525 level last night, the bulls have been pushing higher, continuing the strong trend today, reaching a new high at 3724. Bitcoin's overall trend is relatively weak, mostly in a narrow oscillation cycle, with little continuation from both bulls and bears. After a dip to the 117341 level early this morning, it began to slowly rebound and recover, currently consolidating around 118000. On Saturday, we first laid out short positions, observing a wave of pullback. The short position near Bitcoin at 118,300 and Ethereum at 3587 gained 800 points and 57 points respectively. This morning, following the rebound trend, we reestablished long positions in Ethereum, suggesting to enter long around 3600, and in the afternoon, as it rose to about 3710, we advised exiting, securing 110 points.
From the current market perspective, Ethereum's weekly level has formed a four consecutive bullish candlestick pattern, with the body quite full, continuing to rise sharply. Currently, after a volume increase, the high-level consolidation has not further broken the high, but has not shown a retracement either, with local corrections still maintaining strong performance. Although the performance remains strong, short-term indicators have entered a top divergence area and require adjustment. With the previous continuous volume increase, the current consolidation isn't high, and a volume spike could easily lead to a top. After the volume increase at the end, it's best not to chase the price up. The current pace may still be accompanied by high-level repeated back-and-forth washing, with the pattern possibly breaking out to new highs before a pullback. Operationally, it tests the ability to respond in real-time, and based on the shape, arrangements should be made to coordinate short positions after a rise.
On Sunday evening, shorts can be placed around 118500, with a target of 117000.
Shorts can be placed around 3725 for Ethereum, with the first target at 3650.
