Today we continued to be bearish. After a drop and rebound in the morning, the coin price has been undergoing continuous correction and consolidation. Finally, during the US stock market opening phase, the coin price resumed its downward trend. The short position we set up in the afternoon at 102008 was successfully closed at 100867, gaining 1141 points and recovering the small losses from two trades yesterday. In the crypto world, there are no constant winners; the true winner is not necessarily the fastest runner, but definitely the one with the most stable pace.
Bitcoin and Ethereum once again exhibited the same pattern, with three consecutive bearish candles followed by a bullish candle that pulled upward, creating a bottom rebound pattern that broke the previous slow downward oscillation. Currently, the rebound's strength has not exceeded the previous high point, so the market trend is still dominated by bears. From a four-hour perspective, the coin price formed a small bullish candle with a long upper shadow, indicating heavy selling pressure above zero. In the short term, the coin price will continue to follow the previous downward trend, with a pattern of rebound, correction, and then further decline. Looking at the market, we maintain our bearish outlook.
We will short Bitcoin around 102000, with a focus on 100500. For Ethereum, we will short around 2290, with a focus on 2200.
