Morning Thoughts

From the current market situation, the larger trend has halted at the lower Bollinger Band after experiencing four consecutive bearish days. Currently, the price has rebounded somewhat, indicating that there is some support at the lower Bollinger Band. However, the KDJ indicator has formed a death cross and continues to extend downwards. The MACD histogram is also gradually increasing below the zero line, suggesting that the overall trend will still revolve around bearishness. The hourly level is forming a downward trend, and the current market is still dominated by bears, but after a short-term oversold condition, there is a need for technical correction. It is advised to strictly control positions and pay attention to the impact of important economic data on the market in the evening. In terms of operations, it is recommended to maintain a short-selling strategy on rallies.

Bitcoin can be shorted around 118600 to 118200, with a target of 117000#比特币 #以太坊操作 .

Ethereum can be shorted around 4680 to 4530, with a target of 4450.