A new week brings a new beginning, good morning everyone. The weekend market has also come to an end, stepping into the rhythm of Monday. Looking back at the early morning market, last night, the price of Bitcoin started to continuously pull back from the 102,789 line, and the intensity of the pullback was much greater than previous weekends. In the early morning, the price of Bitcoin broke through the 100,000 mark, reaching a low of 98,115. Ethereum showed a stair-step downward trend, probing the bottom through two rounds of decline, with the lowest point reaching around 2,111. The overall market is currently giving signs of a rebound. We emphasized on Sunday afternoon that everyone should enter the market to short, targeting the 100,000 mark. After a brief period of consolidation, the shorts continued to increase, and our strategy has been validated!

In terms of technical structure, there has been a clear reversal signal after coming down from the high. The resistance above remains very strong, and the four-hour bearish candle has pulled back directly. Although it has shown consecutive bullish candles now, the intensity is not sufficient to indicate a reversal signal. It is quite similar to the previous trading conditions, with obvious space still available below. In the one-hour chart, we can see that the price has returned to below the mid-line, and the bearish energy bars have begun to increase again. Although the decline has stopped in the short term and the market has shown a corresponding rebound, the downward trend has not yet completed, and it is currently in a stage of accumulation.

Operational Advice

Short Bitcoin at 101,000, target 98,000

Short Ethereum around 2,250, target 2,150,761,533,530,29