Last night until early this morning, the cryptocurrency price once again exhibited a 'roller coaster' pattern. After being blocked by a rebound last night, the price strongly retraced, falling below the 100,000 mark again, and then showed a strong rebound. It is currently consolidating around 104,000. The market can be described as experiencing significant drops and rises. Our short position established at 102,136 was successfully closed at 100,010, gaining 2,126 points, while the Ethereum position set at 2,292 was closed at 2,206, gaining 86 points. During the adjustment phase, we can mainly maintain a wait-and-see approach. When the market trend arrives, it is both a test and a great opportunity for everyone in the crypto space.
From the daily chart perspective, the price has shown four consecutive bearish candles, indicating strong bearish sentiment, and a long upper and lower shadow was observed yesterday, reflecting strong selling pressure above. Currently, as the key support has not been broken, both bulls and bears are in a stalemate, maintaining a volatile rhythm, but the overall downtrend remains unchanged. From a four-hour perspective, after a rapid decline, the price has shown two consecutive three consecutive bullish candles, and the large bullish candle has changed the previous staircase-like drop pattern, indicating a strong counterattack from the bulls. The price has once again broken through the 1,042 line but has not stabilized above, posing a high risk of short-term pressure and pullback.
Short directly near 104,000 for Bitcoin, focus on around 102,000. Short directly near 2,350 for Ethereum, focus on around 2,250.
