1.10 Morning Thoughts
It's Friday again. Last night, we went up from around 91800 to about 94685, then fell back to around 91200 in the early morning, resembling a roller coaster ride. The market saw a failed bottom fishing attempt early yesterday morning, but fortunately, I managed to escape in time; otherwise, profits would have been given back!
The market remains sluggish, with bearish forces dominating. Bulls have tried to push back multiple times but have been suppressed, failing to effectively reverse the situation!
After a short-term V reversal last night, the market dropped back to the 91000 area. Although there was a rebound, its strength was weak, with only a thousand-point range. The hourly Bollinger Bands have not touched the middle band. On the 4-hour chart, the market continues to decline with consecutive bearish candles, and the lows are consistently moving downwards. Bears may continue to extend, so the trading suggestion for the day is to focus on shorting on rebounds, with buying at low levels as a supplement!
Short around 93500-94000, targeting 91500-91000
Short around 3330-3350 for Ethereum, targeting 3200-3180
