The long positions in the morning session have successfully exited. Looking back at the morning market, Bitcoin made a long trade at 103443, and the price reached 104256 upon exit, gaining over 900 points. In the rapidly changing market, the winning formula never hides in vague feelings and impulses; only by deeply integrating rational analysis with professional judgment can one navigate the foggy trading path. Following the guidance of a professional team can lead to a steady and upward progression in the complex and variable market.
From the current technical analysis of the market, it appears that the current market is trapped in a tight range of oscillation, with both bulls and bears repeatedly contesting within a narrow range, causing price fluctuations to become more and more convergent. On the 4-hour chart, a long lower shadow indicates a rebound from a bottoming pattern, but this is merely a short-term technical correction, unlikely to shake the resistance wall built by heavy pressure above. If the bulls fail to break through 104700, the short-term market is expected to continue its weak oscillating downward trend.
Therefore, the strategy in the afternoon still suggests a primarily short position. Bitcoin can be shorted around 104500, targeting near 102000. Ethereum can be shorted around 2600-2620, with a lower target near 2520.
