Analysis in the early hours of Friday

After a sharp drop in Bitcoin during the early morning, it did not last long,

quickly turning around for a significant rebound.

In a bull market, sharp drops are normal,

in a bear market, it’s a trap to lure buyers, while in a bull market, it’s a sharp drop.

From a technical perspective,

it should have initially looked upward for a fluctuating rise,

but after last night’s surge past 100,000 and then dropping back,

a wave of selling and decline equals a direct break,

which undoubtedly declares the failed attempt of last night’s surge,

and makes this morning’s sharp drop seem significant.

Considering various signs at present,

Bitcoin is very likely to face a wave of correction in the short term,

after all, the market needs time to settle,

repair emotions and chip structure after such a dramatic rise.

Therefore, the main strategy going forward should be bearish!

In the early hours of Friday, short Bitcoin at 101500-102000, with a target of 97000-95000,

short Ethereum at 4080-4100, with a target of 3900-3800!