Thursday Summary: This evening we preemptively set a short target near 86650 to look at 84000. In the early morning, we also reached our take-profit point as expected, capturing a space of 2500 points. Later in the evening, we went long near the low point of 84622, which also perfectly yielded 1700 points. During the day, our operations were quite frequent, and we had a very good profit space. Recently, the market conditions have been exceptionally favorable for trading. If one cannot even handle such simple market conditions, it’s time to reflect on one’s own issues.
From the current market observation, the Bitcoin market continues to show weakness, and the significant gains during the day have been completely retraced, with a further downward trend expected. From the hourly analysis, the Bollinger Bands show a parallel contraction state, with a brief test of the upper resistance followed by a rapid decline with consecutive bearish candles, breaking below the middle band. Although the bearish volume was briefly interrupted, the overall downtrend is difficult to change. Our midnight layout maintains a bearish stance.
Bitcoin can be shorted at 85000-85300, with a target near 80000
Ethereum can be shorted at 2330-2350, with a target near 2250
