Yesterday, the market fell again, reaching a low of around 91000. As mentioned in yesterday's article, if the market falls and strongly breaks through 93000, we can conduct right-side trading and directly pursue short positions. How many of our friends have followed this wave? After this round of decline, will the market be able to return to 100,000?
In the short term, it is quite difficult, unless we receive another major positive news. This round of decline has also been influenced by macroeconomic factors. Firstly, the U.S. government selling 190 million bitcoins has caused market panic. Secondly, the two reasons related to tariffs have caused this decline. Currently, the market has started to show some rebound, but the momentum is not strong. Therefore, today’s main strategy is still focused on shorting during the rebound. This round of rebound at the 15-minute level has not ended yet, and the 1-hour line is similarly dominated by bullish technicals, still having the desire to push upwards. However, the 4-hour and daily lines are still dominated by bearish trends, especially with the daily line showing three consecutive bearish candles. Thus, it is more prudent to operate mainly around shorting during the rebound. The significant resistance above Bitcoin that needs to be watched is 9.6; if it breaks through, it will lead to a change in the trend. The overall trend of Ethereum aligns with Bitcoin, so just follow Bitcoin to enter the market.
Bitcoin: Short around the rebound of 94000-94500, with targets looking towards 93500-93000-92500.
Ethereum: Short around the rebound of 3280-3310, with targets looking towards 3250-3210-3180.
