1.10 Early Market Analysis - Short Position 12,000 Big Loss

Watch more, act less! The recent market has been a downward spiral, falling endlessly. From Tuesday morning at 102,700, it plummeted to 91,000, a drop of 10%, affecting tens of thousands of people in just a few days. I also tried to rebound twice, but gave up after not seeing any decent results. Currently, the short positions at 102,000 and 3,720 are still open.

1. BTC Current Price 93,000. After breaking below the previous low of 91,500 at 4 AM, the price recovered. The daily line shows three consecutive bearish candles, and indicators show a clear bearish trend. Mid-term movement is accompanied by a second test, showing some buying power, with many still bottom-fishing here. There is no obvious structural pattern, and I maintain my original plan; the target for this major correction is at 85,000. Today is Friday, and there are non-farm payroll data tonight. After these days of adjustment, it is estimated that tonight's volatility will be large, and short positions can be placed above.

Intraday Strategy

Short at 96,000-97,000-98,000 Stop Loss 98,500 Take Profit 95,000/93,000

Long at 91,500-91,000 Stop Loss 90,000 Take Profit 94,000/95,000 (valid before 8 PM)

2. ETH Current Price 3,240. Recently, Ethereum has dropped more than Bitcoin. Although it did not break the previous low last night, do not think it has strengthened; the rebound is still very weak. The daily line shows several large bearish candles, engulfing the previous consolidation, and bears are still dominant. The price has again touched the daily ema channel, but there is not much reference value.

Intraday Strategy

Short at 3,390-3,450-3,550 Stop Loss 3,580 Take Profit 3,300/3,250/3,000

Do not participate in long positions intraday

3. Reduce trading frequency and wait for suitable trading opportunities. Live broadcast at 8 PM, fighting the non-farm payroll data with everyone! #btc #eth