$BTC The road in the cryptocurrency world is fraught with thorns; only with unwavering faith can one cut through the thorns and reach the hall of wealth. Every instance of perseverance is a tribute to dreams. On Friday morning, the Bitcoin market continued the downward trend from midnight, first dipping to a low of around 114321 before stopping, then rebounding to a high of around 116039 before facing pressure, currently entering a downward trend again. The Ethereum market initially dipped to a low of around 3616 before stopping and rebounding, but after reaching a high of around 3722, it again faced pressure and entered a downward trend. This morning, Sheng Ge once again provided a bearish outlook in advance, and the market responded accordingly. The Bitcoin short position laid out by Sheng Ge this morning was entered around 116245 and exited at 114761, gaining a space of 1500 points. The Ethereum short position was entered around 3717 and exited around 3635, securing 82 points in space.
According to the current market situation, the four-hour level shows that the market has formed a six consecutive bearish trend, continuing to dive. The overall trend has formed a very strong one-sided movement, with strong bearish momentum, as the price continuously refreshes low points while there is no obvious support level below. The bulls are completely suppressed by the bears with no signs of recovery, and it is highly likely that the downward trend will continue. From the one-hour level, after a slight rebound, the market has again formed a three consecutive bearish trend, and the Bollinger Bands are still opening downwards. The lower space has been fully opened, and the bearish momentum continues, with key support levels below all being lost, and adjustment points continuously diving, indicating that the downward cycle has not yet ended. Therefore, in the afternoon operations, we will adopt a high-short strategy.
Short Bitcoin around 115500 with a target of 113500-113000.
Short Ethereum around 3650-3670 with a target of 3550.