Last night, the price comparison once again experienced a deep correction. At midnight, it started to correct from the high of 112895, with the morning's lowest point reaching 111121. Currently, the rebound is not very obvious, so one should definitely avoid betting on long positions during such a deep correction. The overall trend during the day is considerable, and the core of the current market rhythm lies in being flexible and adaptable. Only by actively adapting to changes can opportunities be seized; clinging to the status quo can easily lead to passivity.
From the daily technical structure, a clear one-sided trend has not yet formed. If there is a consecutive bullish rise followed by a bearish drop, one must be wary of the continuation of bearish momentum; if the midnight bears can continue to break lower, one should take profits and exit in a timely manner, being cautious of the market shifting into consolidation. This is also the core reason why the current conditions do not support a second short position. Currently, bullish momentum has strengthened, and there is at least no direct basis for shorting. Although the rebound has not yet broken through the earlier downtrend, the current rebound space has shattered the previous weak rhythm. Therefore, today's operational strategy should first rely on the rebound to set up long positions, and after observing its continuation strength, then selectively follow up with short positions.
Tuesday afternoon thoughts:
Bitcoin fluctuates around 111000-110800, expecting a target near 113000.
Ethereum fluctuates around 4260-4240, expecting a target near 4380.
