In the morning, a reference was given for short positions near 96000. The price of the coin started to decline from the line of 95700, with a low point around 93600, providing over 2000 points of volatility. I wonder how many traders managed to catch this wave? Currently, after rebounding to around 96400, the price is under pressure and falling back. The pressure in the range of 97000-97500 that we mentioned earlier remains strong, and the short-term pattern continues to show a weak rhythm.
As for the subsequent trend, I personally believe that the line of 92000 will still be explored, but it won't happen all at once. The upcoming trend will be a step-by-step downward rhythm, with short-term support still at the line of 92000. According to the four-hour level trend, there can only be a second bottom test without breaking, otherwise, it may be possible to turn the situation around.
Regarding Ethereum, the adjustment in the past few trading days has also been considerable, with short-term resistance still at the line of 3400. As of now, there hasn't been a significant rebound, and the pattern is similarly weak, so the operation should continue to focus on shorting at highs.
On Monday afternoon, the shorts entered in the area of 96000-96500 for Bitcoin should continue to be held. For traders who haven't entered yet, if another rebound opportunity arises, they can still get involved, with the target unchanged, looking to retrace to the area of 92000-92500! For Ethereum, the shorts entered around 3350 should continue to be held, with the first target at 3200.
