Yesterday, the market continued its volatile downward pattern. Bitcoin touched a high of 116928 in the early session before facing pressure and retreating, continuing to decline throughout the day, ultimately stabilizing briefly around 113383. Ethereum gradually corrected from its high of 4388, dipping to a low of 4157. Despite multiple attempts to rebound during the day, the bearish forces firmly dominated the market, and the overall downward trend remained unchanged, with bearish momentum continuously gaining strength—during the midnight trading, Ethereum hit a low of around 4100, while Bitcoin dropped to approximately 112700, further refreshing recent lows. Under this trend, the short positions established yesterday in actual trading yielded substantial profits: Bitcoin shorts successfully captured a space of 2629 points, while Ethereum shorts also gained 42 points in profit, accurately seizing opportunities in the bearish market.
From the current market state, there is a clear sign of weakness overall, with the intraday market continuously probing new lows, and the downward trend has been clearly established. In terms of market dynamics, bearish forces hold absolute dominance, while bulls remain suppressed; every rebound seems inadequate and struggles to form effective reversal signals. Especially near key resistance levels, selling pressure is particularly prominent, with prices often facing pressure and retreating, further confirming the strong bearish pattern. Based on the current market structure, it is recommended to timely adjust trading strategies, align operations with trend changes, and adopt a strategy focused on "selling on rebounds"—i.e., waiting for prices to rebound near important resistance levels before strategically positioning for shorting.
Specific operational suggestions:
Bitcoin: Position short around 114000, targeting down to around 112000
Ethereum: Position short around 4250, targeting down to around 4050
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