$BTC Monday Morning Thoughts

The cryptocurrency market is like a battlefield, where strategy and courage are equally important. In the midst of strategizing, victory can be achieved from afar. May you cut through thorns and achieve success.

Based on the current market situation, the daily level shows a trend of six consecutive bearish candles breaking through the lower Bollinger Band, followed by some bullish rebound, with prices warming up above the lower band. The KDJ and RSI indicators show upward turns for all three lines, but the Bollinger Band continues to open downward, and the MACD indicator's fast and slow lines are still extending downward. The values of the indicators are continuously accumulating in the negative range, and the overall trend has not shown a clear signal for a reversal. From the four-hour level, the market has formed a rebound trend of six consecutive bullish candles, with prices breaking through the middle Bollinger Band and continuing to rise. However, the Bollinger Band is continuously narrowing, which means that the upward space for the bulls is being compressed. Additionally, the second round of bullish rebounds has not broken out of a significant range, and the indicators at this level are showing downward turns. Therefore, the current rebound can only be regarded as a normal correction method. Thus, in the morning operation, we will adopt the strategy of shorting after a rebound.

Bitcoin can be shorted around 115,000 with a short-term target of 113,000, a medium-term target of 111,500, and a long-term target of 110,000.

Ethereum can be shorted around 3,550 with a short-term target of 3,450, a medium-term target of 3,300, and a long-term target of 3,000.