Monday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions
Reviewing the morning trends, Bitcoin dropped from a high of 113646, retracing all the way down to a low of 111722 before stabilizing; Ethereum followed a similar path, falling nearly 200 points from a high of 4803, touching a low of 4615. In the morning, Lao Tian continuously placed short positions on Bitcoin, capturing a space of 2793 points, while two short positions on Ethereum also yielded a profit of 236 points. The accumulation of positions relies on grasping the rhythm day by day; whether for long-term or short-term, one must decisively strike when opportunities arise. Of course, mindset determines success or failure; investment must be rational—if the market is incomprehensible, it's better not to act.
The current structure remains in a volatile downward pattern; the intensity of this round of retracement has exceeded normal correction ranges, leaning more towards testing lower support levels and continuing to decline. Although the unilateral momentum isn't very strong, the pressure is quite evident, and the daily level has confirmed a breakout. From a technical perspective, there is still adjustment space below, and the key is to see at what level stabilization can occur. This round of retracement can vary in size, with the focus on the pattern transformation—whether it will be a strong rebound after a decline or a continuous downward trend is the core thought to consider currently.
In the short cycle, the high-level retracement shows weakness; at the beginning of the week, it is suggested to first follow the trend and short, looking for continuity before making a wave of long positions.
Trading Suggestions:
Short Bitcoin in the 112000-112500 range, targeting 110000;
Short Ethereum in the 4640-4660 range, targeting 4550.
Bitcoin defense above 112800, Ethereum defense above 4670
