On Thursday morning, we provided a bearish outlook. The price of Bitcoin declined from around 93,800, first touching the support at 92,000. After that, we closed short positions with a profit of over 1,200 points. Subsequently, the price rebounded but struggled near 92,500. We initiated a second short position as the price broke the support during the European trading session, reaching 91,600, which allowed us to gain another 800 points (the second short strategy has been updated; details can be found in previous texts). The market then rebounded again and is currently oscillating around 93,000.

During the European trading session, although we suggested a breakdown below 92,000 aiming for 90,600, the momentum was insufficient, and the price only reached around 91,600 before stopping the decline and rebounding. From the current pattern, there is strong resistance at 95,000 while there is also some buying support below. After a doji star on the daily K-line, the price has been consolidating at a high level, and bullish momentum is starting to weaken. Although there was a rebound after breaking support in the afternoon, the possibility of a double bottom cannot be ruled out. In the 4-hour chart, the K-line is still under pressure at the MA10 daily line, with the MACD showing a dead cross at a high level with decreasing volume. After the rebound correction, there is still a need for a pullback. Therefore, for the midnight outlook, we will continue to approach it with a short stance. If the second retest confirms support, we can continue to look for bullish opportunities.

Regarding Ethereum, although we suggested a rebound above 1,800, the daily line is in a downward structure. After a pullback to around 1,720 during the day, it also showed signs of stopping the rebound. However, in the short term, the resistance above is evident, while support below is relatively strong. The probability of continued oscillation in the short term is high, and currently, the price is at the upper range of the interval. Therefore, in the short term, we will also approach Bitcoin with a short stance first and consider going long only after it stops falling.

On Thursday midnight, we took a light short position for Bitcoin near 84,000, with a stop loss if the rebound does not break 95,000, protecting against 95,500. We will focus on the daily low point around 91,600-92,000, and consider going long again after it stops falling. For Ethereum, we will continue to reference the short position in the 1,800-1,830 area, focusing on the 1,700-1,730 area below, and consider going long again after it stops falling. #加密货币总市值重回3万亿