Last night, the bulls took advantage of the good news to push Bitcoin to a high of around 65,800 before encountering resistance and falling back, while Ethereum also encountered resistance and pulled back when it hit 2,666 points. The bearish strategy we proposed last night in the 64,500 area of ​​Bitcoin was unfortunately stopped in time. After that, we went short again near 65,500, and left the market near 64,800 in the morning to recover 700 points.

Under the current market structure, the price ratio has broken a new high, and the sustainability of the bullish force has become the focus. Whether it will continue to advance or return to the oscillating pattern remains to be seen. However, from the four-hour chart, although the bulls have been released strongly, the subsequent support is insufficient, suggesting that the market may weaken, and Bitcoin is expected to pull back to around 64,000. Therefore, we still adopt a high-altitude strategy in the early trading on Friday.

Operation suggestions

Bitcoin can be shorted at 65000-65300, with a focus on 64000-63500

Ethereum can be shorted around 2650, with a focus on 2550.

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