🚀ETH follows BTC's sharp decline, short-selling profits are within reach, what are you waiting for?
It's Friday, let's talk about the market for BTC and ETH, and how we should operate.
Let's start with BTC. It seems like it might drop a bit more. If the price reaches around 96500, we can consider selling a bit more, which means short-selling. You see, yesterday morning BTC's price rose and then fell; we previously suggested selling at the high of 99850, and it indeed dropped.
From a technical perspective, BTC previously surged to the major threshold of 100,000 and then turned downward, which is a bad signal. Especially yesterday's candlestick chart, the upper line is long, resembling short-sellers covering their positions. Looking at the price, it has been consistently below the Bollinger Bands, indicating that short-sellers are currently strong.
Now looking at the 4-hour chart, a double top pattern has emerged, and then it started to pull back. Although the bulls are still trying to hold on, if the price pushes up again, many people are likely to sell, as the pressure from the double top pattern is there, and market sentiment has changed; everyone wants to sell. Therefore, we can sell in batches in the range of 96300 to 96800, with a target set at 95000 to 93000.
ETH has also dropped alongside BTC. If the price is in the range of 3360 to 3390, we can consider short-selling, targeting 3300.
The logic is similar to BTC; the overall market is declining, and ETH is also struggling to rise independently. Although the bulls are still resisting, the strength of the bears is stronger, and they are expected to take the upper hand.
It's that simple; we need to follow the market, sell when necessary, and not miss out on opportunities!
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