Thursday, the bears are overwhelming, mainly shorting on rebounds

After today's upward surge, it will be difficult to return to $100,000 for a long time. Since the introduction of ETF spot trading in March this year, we have entered a bull market, with Bitcoin's price rising about fivefold. If the monthly candle closes bearish in a few days, we need to consider taking profits and going short for the long term!

The market opened high and fell low during the day, with Bitcoin starting to face resistance and correcting from 99,500, dropping to around 95,100 in the afternoon to stop the decline and correct. Currently, although it has temporarily halted, the daily and four-hour charts do not look optimistic. A clear door painting action is evident, and the main strategy is to short on short-term adjustments and rebounds. At this point, don’t think about bottom fishing.

Short Bitcoin in the 96,500-96,000 range, target 94,000, moving stop-loss at 800 points.

Short Ethereum in the 3,440-3,380 range, target 3,280, moving stop-loss at 60 points.

The market is highly volatile, avoid heavy positions, and strictly maintain defensive measures. Wishing everyone success.