On Wednesday, New Year's Day, the market also gave a slight range fluctuation. Bitcoin, after rising to around 96,200 at the end of the year, faced pressure and retreated. Yesterday, it rebounded again after reaching the 92,800 area, and is currently facing pressure again after rising to around 95,000. In the short term, it returned to the 94,800 area, and yesterday also provided a rebound short-selling strategy. However, due to the market closure, there was not much rebound, and the market continued to decline, with yesterday's bearish strategy realizing a drop of 1,000 points.
From the daily chart, the market still exhibits a weak form in the short term, continuing the downward fluctuation pattern, with not much rebound, and the downward structure has not changed due to a brief rebound. Therefore, the main strategy remains a high short position. Similarly, the rebound action on the 4-hour chart did not continue, and the price of the coin rebounded to the upper track area and faced pressure again. In the context of a bearish main structure, the rebound could not be sustained, so the bearish strategy remains unchanged.
On Wednesday morning, it is recommended to short Bitcoin in the 95,500-95,000 area, with a target focus on around 93,000. Ethereum should proceed in sync!
In the cryptocurrency circle, you are never short of opportunities, but rather lacking an excellent guide. If the people around you are all very outstanding, you would find it hard not to excel yourself!
