Wednesday, the bulls strongly surged, the 100,000 level faces pressure, do not chase high prices at high levels, maintain short positions in the morning
The calm market from yesterday was ruthlessly broken by the strong surge of the bulls at night, with the price of the currency advancing rapidly from 93,800, reaching the 99,500 area by early morning before facing pressure and retreating. This nearly 6,000-point increase directly left the bears confused, and very few managed to avoid liquidation. Currently, the market is oscillating around the 98,600 area, do not chase high prices at high levels, chasing high prices while selling low is a major taboo, first observe the pullback situation of the market.
Currently, the 4-hour chart is showing a strong rebound relying on the middle track, combined with the significant release of bottom rebound space. If the 4-hour chart forms a rebound wave, there will be a conversion to a pullback wave today, meaning a high test and then a retest, while the closing position will determine the continuation of strength or weakness today. It is crucial to see whether it tests high then falls back or tests high followed by sideways consolidation and accumulation to determine short-term strength and weakness changes. From the market's perspective, there is still a considerable risk of testing high and then falling back, so it is not advisable to chase high prices excessively. In the morning, the operation should be treated with short positions!
In the morning, Bitcoin is around the 99,000-99,500 area short, with targets focusing on the 97,000-96,000 range.
Ethereum is around the 3,505-3,520 area short, with targets focusing on the 3,400 range.
When your talent cannot support your ambitions, you should calm down and learn. When your ability cannot manage your goals, you should settle down and train. Choice is greater than effort!