After hitting the 102800 level, the Bitcoin market at night also began to gradually decline. The midnight market also showed a step-by-step downward trend. As the lows continued to deepen. In the early morning, the coin price touched the 95700 low level. It once retreated nearly 7,000 points. From the current market structure, after a continuous slow decline, the daily line closed negative again. Although it fell below the lower track, it lacked a certain continuity. It is necessary to pay attention to whether the coin price can stabilize at this position during the day. If it stabilizes, the short-term retracement will continue. If it fails to stabilize, the coin price will rebound again. From the perspective of the four-hour structure, the coin price has been repeatedly suppressed on the middle track. At present, it has also broken the previous strong consolidation and correction method. With the retracement in space, pay attention to the changes in long and short positions at the end of today's week. Is it a strong recovery of lost ground after stepping back or further decline? If it falls further, it will end the strong upward trend and fall back in the short term!
Ethereum also fell back deeply at midnight, falling from the high of 3718 to the low of 3322. The structure is obviously weaker than Bitcoin. The daily line fell sharply for three consecutive days, breaking the middle track support, and officially entered the deep adjustment stage. On the hourly chart, it even broke through multiple key support levels, and the strength of the shorts was fully demonstrated. The lower support moved down to the 3220-3180 line. The overall trend of the current market has obviously leaned towards the shorts, and it has also entered an adjustment trend in the short cycle. After fierce competition and repeated tug-of-war between the long and short sides, the market has returned to the downward adjustment track again. It is not difficult to find that the downward trend is extremely rapid, far exceeding the rebound force, which is the strong performance of the main trend. The evolution speed of the main trend is much faster than the secondary rhythm. Therefore, we should keep up with the downward trend and seize the rebound opportunity to decisively short.
BTC operation suggestions
98400 short 99100 cover 500 points defense target 94888
Ether operation suggestions
3460 short 3510 cover 30 points defense target 3330
