Bitcoin/Ethereum Perfectly Validated the Strategy of Shorting Then Going Long

Trader Liang Qiu: 11.26 Bitcoin/Ethereum Short Position Take Profit, Long Position Ready to Enter

In the past two days, multiple short positions were set up above 98300 and 3500 for Bitcoin/Ethereum, and the market has fallen as expected. As of now, Bitcoin has dropped below 92000 in the evening, and Ethereum has also fallen below the 3300 level again. The downward space is indeed quite large, but chasing shorts at this point in the market is meaningless, just as I mentioned to everyone a few days ago that chasing longs above 3500 and 98300 is not advisable. Looking back at the daily level, the range of 91000 to 91500 for Bitcoin serves as the starting point for the third round of this price increase since the current market rise, and in the short term, it is feasible as a top-bottom conversion.

After the recent rebound for Ethereum, we only need to focus on the starting point of 3250 as a short-term support level. The hourly and four-hour charts also show signs of stabilization. Since Bitcoin's drop from its high, there has been nearly an 8500 point space, which is relatively large. Every wave of the market will not reach the target all at once; they all follow a fluctuating continuation pattern.

In the evening operations, enter long positions for Bitcoin around 91300 to 91800, targeting near 93300; enter long positions for Ethereum around 3270 to 3300, targeting near 3360. The current market is primarily in waves, and this article is effective in real-time guidance. #比特币盘整分析 #ETH市场新动向