Currently, the Bitcoin market has rebounded to a certain extent compared to the early morning, which is a normal rebound phenomenon after a major market movement. The Bitcoin price has encountered resistance after hitting a certain level, and it needs to accumulate strength for a period of time to prepare for the next attack before it can break through effectively, similar to Ethereum. In the early morning layout, we exited at the stop-loss point, and since then, we have remained in a wait-and-see state. In the face of uncertain market conditions, blindly following the trend will only lead you into an abyss.
From the daily chart, the price has broken through the lower band of the Bollinger Bands, and the three bands are in a parallel state, indicating that this significant correction has not yet ended; the bears just need to accumulate strength for a while. From the hourly level, the Bollinger Bands are forming a closing trend, suggesting that the bearish force has not been eliminated. In the afternoon layout, we will still adopt a strategy of selling high and buying low to enter short positions. (Note the defensive points)
Short near Bitcoin 103500 Target 101000
Short near Ethereum 2490 Target 2350
