🚀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 trends of 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 more, which means shorting. You see, BTC's price rose and then fell early yesterday morning; we previously suggested selling at the high of 99850, and it really did drop.
From a technical perspective, BTC previously surged to the big threshold of 100000 and then turned downward, which is a bad signal. Especially yesterday's candlestick chart, the upper line is very long, just like the bears are covering their positions. Looking at the price, it has been below the Bollinger Bands, indicating that the bears are quite strong right now.
Now looking at the 4-hour chart, a double top pattern has emerged, and then it started to retrace. Although the bulls are still trying to hold on, if the price pushes up again, it is likely to be sold off by many, as the pressure from the double top pattern is there, and market sentiment has changed; everyone wants to sell. So, we can sell in batches in the range of 96300 to 96800, with an initial target set at 95000 to 93000.
ETH has also fallen along with BTC. If the price is in the range of 3360 to 3390, we can also consider shorting, with a target of 3300.
The logic is similar to BTC; the overall market is falling, and ETH is also finding it hard to rise independently. Although the bulls are still resisting, the strength of the bears is stronger, and it is expected to prevail.
It's that simple; we need to follow the market, sell when we should, and not miss out on opportunities!
Bull market strategy layout, spot ambush opportunities, contract entry points, open the fog of false information, discover the real market, I am Cannon Brother, welcome to join!
