Yesterday, the major cryptocurrency surged strongly, with a bullish candlestick shooting up to around 119,700. However, the good times didn't last long, and the market eventually faced a downturn. As of now, the price has dropped to around 116,000, with an overall decline of about 3,700 points. There are certain signs of rebound in the industry, but they are all just paper tigers. Today, we are inevitably looking at a pullback, so we will continue to maintain a bearish outlook for the subsequent market!

From a four-hour structure perspective, the market has severely deviated from the moving averages, which is a sign of a direct derailment. Moving averages and prices are always mutually attractive, essentially returning to the fundamentals. There are also signs of bearish candlestick formations at the top, along with some engulfing patterns, indicating a top signal. The bulls are clearly weakening, with resistance mainly around 119,000. The overnight price did not break through, so this resistance is evidently strong. A slight rebound is enough to enter a short position!

Major cryptocurrency Tuesday morning suggestion:

Short at the rebound of 118,350-118,850, targeting the range of 115,500-115,000! #稳定币监管风暴 $BTC