On the weekend evening, Bitcoin experienced a strong downward trend, with the price flowing down from around 102,500, breaking through the 100,000 mark and reaching a low of 99,024. Ethereum's market also synchronized with Bitcoin, as the price dropped from a high point of 2,289 to a low point of 2,157. The bearish strategy provided by Sheng Ge during the day was executed as expected, with the Bitcoin and Ethereum short positions arranged in the afternoon at around 102,708 and 2,286 respectively, and exits suggested near 99,414 and 2,178. The Bitcoin short position captured a profit of 3,300 points, while the Ethereum short position captured a profit of 108 points. In such a market, Sheng Ge can only say he is strategizing within the tent, conquering from a thousand miles away.
According to the current market situation, the four-hour level shows that after experiencing a small rebound with three consecutive bullish candles, the bears have provided a large bearish candle for a downward probe. The price strongly pierced through the lower Bollinger Band, and the KDJ indicator has formed a death cross. Currently, the bearish momentum is very strong, and the overall trend is running on the bearish side. From the one-hour level, the market is showing three consecutive bearish candles, with the Bollinger Band opening downwards, completely opening up the lower space. A strong one-sided trend has currently formed, but there is certain support at the 99,000 mark below. The market is likely to provide a certain technical rebound, so for the midnight operations, we will adopt a high short strategy after the rebound.
Bitcoin can be shorted near 99,800, targeting 98,000.
Ethereum can be shorted near 2,230, targeting 2,100.
