Monday, March 6, Rebound Does Not Continue, Continue to Hold Short in the Evening

At the beginning of the week, the trend of Bitcoin is still relatively optimistic. After a round of decline in the morning, the market returned to the 105900 area and faced pressure again, dropping back to the 104200 line in the short term. In the morning, a short selling strategy for Bitcoin was suggested, resulting in a decline of over 800 points after a round of decrease. Again going short in the afternoon, although there was a rebound in the market, it ultimately moved downward, with the short position already gaining over 700 points. The rebound could not be sustained; the high short strategy remains unchanged in the evening.

Currently, the overall trend on the 4-hour chart is still in a fluctuating downward trend. After the weekend's oscillation adjustment, the market continues to move downward. From the candlestick pattern, after a short-term oscillation upward, it was retracted by a large bearish candlestick, and the decline's intensity is still considerable, with a pattern of slow rise and fast fall, and a strong bearish sentiment. Therefore, in a weak structure, a rebound is an opportunity to short. The decline on the hourly chart continues, so maintaining a bearish outlook in the evening is advisable!

On Monday evening, it is recommended to short Bitcoin at 104500-104800, targeting the 103000-101000 line.

On Monday evening, it is recommended to short Ethereum at 2500-2520, targeting the 2400-2300 line.