In the morning, we suggested shorting near 94000. The price rebounded as expected, peaking near our entry zone before retreating under pressure. We entered short positions on Bitcoin at 94369, planning to exit at 93063 for a profit of 1306 points, and we have already taken profits. Ethereum is developing in sync, and the price has rebounded slightly.
Currently, the market trend aligns with expectations, beginning a corrective process after a rally. The four-hour chart shows a strong bearish volume, yet it remains within a wide trading range, with resistance above and below still valid. In the shorter time frames, bearish volume is strong, with a previous long candlestick showing a significant upper shadow and increased volume. In the short term, the price is testing support downwards, but downward movement is blocked by the mid-line, allowing for a rebound. However, the overall structure still trends upward; if the mid-line cannot be broken, there is a possibility for another rebound. Currently, the price is set for a rebound, and considering the previous long upper shadow, we will continue to maintain a bearish outlook, anticipating further bearish volume, and we will short during the rebound.
Short Bitcoin near 93500, target 91600.
Short Ethereum near 1760, target 1700.