Most positions are taken with a mix of fear and the thought that one has more abilities than just this. Every trader should possess two realizations: one is to be brave enough to start from scratch, and the other is to be at peace with the unfinished. An excellent trader is one who, after experiencing repeated failures, does not lose their enthusiasm! On Wednesday, after decisively reversing positions following a stop loss in the early session yesterday, they quickly realized over a thousand points of profit. When the price surged, it faced resistance, and again decisively reversed to go short, quickly realizing another thousand points of profit. Subsequently, the market rebounded and continued to oscillate at high levels. In the current phase, positions above 97000 continue to be added to the short side, and currently, a small profit is being held. The Federal Reserve meeting is approaching, and the market has already started to react in advance. The price is oscillating downwards; although the overall range is not large, if the rebound does not break the previous high, the probability of continuing downward oscillation, given the current momentum, is relatively high.

From the current structure, we still see the transition from weak acceleration downwards to weak oscillation. Although there was a rebound in the morning, it did not form a sustained breakthrough. After continuous oscillation during the day session, the price again experienced a downward trend in the evening. The short-term trend remains weak, and the short-term strategy continues to maintain a bearish outlook. The oscillation following the rebound in a weak rhythm is still a relatively good signal for the upcoming bearish trend. The K-line has overall substituted time for space correction; this oscillatory consolidation is still in a phase of accumulation, with no significant changes from before. For us, it is just a matter of following the shorts and waiting for a second acceleration downwards.

On Wednesday midnight, the price of Bitcoin is currently quoted at 96500. The shorts added above 97000 continue to be held, and the focus remains on 95000 and 93000 below. Regarding Ethereum, the Prague upgrade has not brought any changes to the market. The pressure zone above is clearly concentrated, and the shorts above 1830 continue to be firmly held, with targets unchanged at 1730 and 1680!