On Monday, the cryptocurrency price fell as expected, continuing from the morning!
Yesterday, the article continuously suggested a short position, and the overnight cryptocurrency price performed the expected pullback action. The short position entered after noon at Tenpan saw Bitcoin drop by 1000 points, and Ethereum by over 60 points, both achieving profits as expected.
From the current trend, it is highly likely that the daily K-line will close bearish again, with the cryptocurrency price continuing to be pressured at the mid-track without forming a breakthrough, and the pressure at the 98500 line becoming more apparent. On the 4-hour line, after the spike at the end of the week reaching the 98700 line, it failed to stabilize, and the price has been fluctuating downwards without providing a strong rebound, clearly showing a weak pattern. At the same time, the indicators on the attached chart are turning downward, with bearish volume starting to increase, indicating that there will be a continuation of downward movement. Therefore, in the morning operations, a slight rebound action can provide an opportunity to continue entering short positions.
On Monday morning, short Bitcoin near the 97000 line, targeting the 94600-95100 area below. Only consider capturing a short rebound once signs of stopping are evident.
