On Saturday, June 31, the short selling trend arrives, looking downwards

The annual Dragon Boat Festival is here, and before that, I would like to wish everyone a safe and healthy Dragon Boat Festival, and may everything go smoothly!

Recently, as the cryptocurrency prices continue to decline, Bitcoin has reached a low of around 103,600. In recent thinking, the market has consistently advocated a bearish outlook, and it has ultimately realized a drop of 9,000 points. Since the 23rd, I have led everyone to escape the peak, and friends who have followed the rhythm have continuously profited. The market continues to weaken, and we should follow the trend!

Currently, the bearish sentiment is still quite strong, with the daily line showing a four-day consecutive decline. The bears have formed an obvious continuation, and the structure has shifted from bullish to bearish. Once the direction of the larger cycle changes, the remaining task is to follow the trend. Analyzing the daily indicators, the volume of the bears has not been fully released, leaving room below, indicating a certain continuation of the bearish trend. The four-hour chart clearly shows a weak downward pattern, and there has been no effective rebound in the short term, so in this weak structure, we should maintain a high short position.

On Saturday morning, it is recommended to short Bitcoin at 104,500-104,800, targeting the 103,000-101,000 range.

On Saturday morning, it is recommended to short Ethereum at 2,550-2,570, targeting the 2,450-2,300 range.