The market always punishes two groups of people: those who can't wait and those who wait too long—then there is Lao Gao, who leads the friends who wait just right. The US stock market was closed yesterday, and the market movement was rather tedious, with the overall pace still showing a weak oscillation. Bitcoin faced resistance at a rebound high of around 105185 yesterday and dropped to a low of around 103870 at midnight. Ethereum fell back from a high of 2544 last night and hit a low of around 2483 at midnight. Lao Gao's bearish strategy in the afternoon yielded expected results, with positions in Bitcoin at 105000 and Ethereum at 2540 shorted, respectively capturing a space of 1100 points and 53 points.
From the current market perspective, the short-term Bitcoin Bollinger Bands on the 1-hour level are starting to narrow. The second rebound near 105200 has failed to break the high, and the bears are consolidating in the short term, while the bullish momentum is not strong. The overall trend still remains in a downward channel. The market is currently building momentum downwards amidst oscillation. An upward rebound that fails to break high will still be accompanied by repeated drops from the bears to suppress it, and the expectation of a downward break will gradually increase. Today's operations will still revolve around bearish positions, with adjustments made on breakthroughs during the session.
Operation Suggestions:
Bitcoin can be shorted near 105000-105300 on Friday morning, with the initial target focusing on 103300.
Ethereum can be shorted at 2545, with the initial target focusing on 2450.
