Since last night, Bitcoin has gradually moved upward, and after touching 58,500 at midnight, it fell back under pressure, reaching a low of around 57,100, giving it more than a thousand points of room for a fallback. It also touched the 57,000 mark below this level, stopped its downward trend, and slowly rebounded upward, rising to around 57,900. Currently, Bitcoin is trading around 57,800. Ethereum also rose and then fell back synchronously, hitting the bottom of 3,088 at midnight and then rebounded. The running trajectory of this stage is still keeping up with Bitcoin. The midnight fallback is definitely a good thing for us, allowing the Bitcoin and Ethereum high-altitude short positions that were laid out earlier to take profits and leave the market. Bitcoin took 628 points of space, while Ethereum took 52 points of space. The market volatility is not particularly large, and this level of profit is worthy of our staying up late, and it is also responsible to the friends who follow us, and there is an explanation from beginning to end.

As for the current market, the overall price range of Bitcoin is gradually moving downward. It is difficult to stabilize after the high point is broken, and the low point is stable and falls back. The increase space at midnight was immediately given back. The recent low is close to the support position of 56,500, but it did not continue to break down. The trend remains in a range of fluctuations. If it falls below the support of 56,500 in the future, the short-term consolidation pattern will be broken. From the four-hour chart in the short cycle, the high must be followed by a retracement. After touching 58,500 at midnight, it quickly fell back under pressure. The subsequent continuous decline in the price of Bitcoin has swallowed up the previous gains. The long-term volume is difficult to continue. After a slight release, it is repeatedly suppressed by the short-term. The current trend is weak and the market is in the consolidation and repair within the range. From the indicator point of view, the downward diffusion of ENA trend has not ended and it has only been half of the cycle. There is still a need for a retracement in the future market. On Saturday morning and noon, I will give a thought around high 🈳.

Pie: short around 58000-58300, looking at 57000. Ether short around 3130-3155, looking at 3060

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