At midnight, the short-selling forces of Bitcoin once again showed their strength, easily breaking through the 62,000 mark, and the lowest point reached 61,836 before encountering a brief rebound. Although the decline of Ethereum was limited, it also hit the 2,400 mark and stabilized and rebounded, and the market fell into a fierce battle between long and short. Lao Peng's bearish prediction before midnight was accurately fulfilled, and his grasp of the pulse of the market remained stable.

The current market situation shows that the market has fallen below the 62,000 mark many times, the adjustment range has intensified, the rebound strength is weak, and it is difficult to sustain, and it has been repeatedly under pressure in the downward trend. The long camp failed to quickly organize an effective counterattack, and the rebound strength was obviously insufficient, indicating that the possibility of further penetration of the support level below has increased. From the technical form, the high point continues to move down, the key support level line has also been lost, and the adjustment low point continues to fall, indicating that the adjustment cycle has not yet ended and the market is still in the process of finding the bottom. Therefore, the current strategy should be mainly based on rebound and short, waiting for the market to adjust in place.

Operation suggestions

Bitcoin rebounds to 62500-62600 on Wednesday morning, short position is available, and the target is 61500-61000.

Ethereum rebounds to 2450-2460, short position is available, and the target is 2400-2350.

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