On Friday morning, Bitcoin's market stabilized slightly around 106000 before continuing the downward trend from midnight, with the price strongly dipping to a low of 102614. Ethereum's market moved in sync with Bitcoin, with the price declining from around 2660 and hitting a morning low of 2457. Early in the morning, Brother Sheng provided a bearish outlook, and the market moved as expected. The Bitcoin short position was entered around 105854 and exited around 102863, capturing a profit of 3000 points. The Ethereum short position was entered around 2651 and exited around 2484, capturing a profit of 167 points.
Based on the current market analysis, the four-hour level shows a significant downward movement, with the Bollinger Bands widening, and the middle band also turning downward. The MACD indicator's double lines formed a death cross and continued to decline, with the histogram gradually increasing below the zero axis. The overall trend remains bearish. From the one-hour level, the market shows a one-sided downward trend with the Bollinger Bands' lower band, and both bulls and bears are in a fierce competition stage. The KDJ indicator formed a death cross at this level and entered the oversold zone, now showing a turning upward movement. Therefore, for the afternoon operations, we will first look at the strength of the rebound and proceed with a high short strategy.
Bitcoin can be shorted around 104500, targeting 102000.
Ethereum can be shorted around 2550, targeting 2450.