The candlestick chart at three in the morning is still flickering. Some are fixated on the plummeting curve, turning red-eyed, while others hold onto hopes of a rebound, staying up late — every second in the cryptocurrency world plays out the switch between 'heaven' and 'hell', testing the mindset of every participant.
On Monday, Bitcoin quickly rose after the market opened, reaching a high of 118200 during the night before turning downward, sliding down to 114603 for support. After stabilizing, Bitcoin fluctuated repeatedly between 114600 and 116000, with trading volume remaining sluggish. In the evening, the bulls made their move, and the price rebounded to around 116400, currently achieving a temporary balance. Ethereum's trend followed closely, rising in the morning to touch a high of 4557, but unfortunately fell in tandem, dipping to just above 4223. It is consolidating and building strength, with a synchronized rise in the evening, currently trading at around 4350.
In today's actual trading guidance, students successfully opened short positions on Bitcoin three times, capturing a space of 2800 points, while Ethereum shorts gained a profit of 290 points.
From the current market situation, the four-hour level shows that the price is still in a downward trend, currently showing a price that has broken below the middle track and continues downward, with the lower track forming short-term support and the upper track flattening. The MACD histogram is red and shows signs of flattening as it gradually shortens, but overall remains below the zero axis, indicating that the current bearish momentum has some release but is not yet fully exhausted, and the downward trend has not yet reversed. From the one-hour level, the rebound cycle of Bitcoin, with MACD golden crosses and breakthroughs of the middle track, indicates that Bitcoin is in a rebound cycle. In summary, the thought process in the early morning revolves around long positions.
Long Bitcoin around 116500, targeting 117500.
