3.8 Thought Sharing
Yesterday, various major news releases were frequent, and the market was strongly impacted. The thoughts were validated as Bitcoin dropped from 91,000 all the way down to around 85,500. Despite the release of favorable news, it failed to effectively support the price, and the market remains in a downward trend. The current market situation is already obvious, with price movements clearly leaning towards bearish.
From a short-term perspective, prices have continuously dipped with bearish candlesticks, gradually opening up downward space in the short term. All moving averages are maintaining a weak arrangement, and there is a lack of strength for bulls to recover in the short term, resulting in an overall market pattern exhibiting clear bearish characteristics.
Considering the current market trend, intraday operations are recommended to focus on high short positions. One can appropriately short during rebounds, as bulls are unable to effectively recover in the short term, and the market still leans towards the downside.
Short Bitcoin in the 87,500-87,800 range, targeting 84,500-84,000.
Short Ethereum in the 2,180-2,210 range, targeting 2,080-2,100.
