Looking up, this is the beginning of the cryptocurrency world. Since entering the industry, I have firmly believed in the two words. On Saturday and Sunday, I told everyone that the trend indicates a sharp drop. Sure enough, it plummeted directly in the early morning. I barely opened my eyes to call everyone to exit. I shorted Ethereum at 4760, but it directly surged to 4785, then I suggested going short again at 4920, and I made a profit of over 200 points by taking it down to 4700. As for Bitcoin, I won't even mention it; I repeatedly advised going short above 115000, and I directly took down 3000 points at 112000. If you must ask why, it might just be faith—firmly bearish. Even when I encountered a surge, I steadfastly continued to short, and everything was perfectly executed.
From the technical structure, the pullback space from Friday's rise has already been very clear. The space for the pullback on Saturday has exceeded the original pullback structure. The correction space is greater than the original space, so the trend has already reversed. This is the reason for going short. Currently, the pullback is causing the moving average indicators to turn downwards and spread out. There is still pullback space on the short to medium term, with volume increasing as it steps down. Each step lower is weaker, and I will continue to follow the trend and watch for a pullback to break lower and continue to go down.
On Monday morning, focus on shorting Bitcoin at 113800-114300, with a target around 110000. For Ethereum, focus on shorting at 4790-4820, with a target below 4700. $BTC