At midnight, the price of Bitcoin hit a high and encountered resistance. It reached a high of 58450 and then fell under pressure, but the correction was limited. During this period, the Ethereum market saw a large increase in volume, and it rose several times during the midnight period, reaching a high of around 2370. We gave the idea of ​​looking at the rebound first and then following the short position in advance. The overall market trend is highly consistent with our strategy, and the points are almost completely consistent.

From the current 4-hour chart, although the price continues to run around the middle and upper tracks, the bulls have a certain advantage, but the high point has never been broken. After reaching 58500 yesterday, it quickly retreated, indicating that the upper pressure level is relatively strong. Combined with the current failure of the high last night, it shows that the bulls are slightly weak, and the bears have not shown a clear advantage. Today is Friday near 2310, and the volume is expected to increase in the evening, and the daytime is still dominated by oscillation. Therefore, in terms of operation, we still recommend shorting at high levels and making arrangements around the pressure level.

Bitcoin short near 58500, target near 57300

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